It appears if institutions sold hard today. Volume was very high. I expect that the retail (home) investor went home tonight and might panic tomorrow in a capitulation sell off. There is also and FOMC meeting, that could turn around this market on a dime, with the announcement of a Quantitative Easening #3.
They have definitely set the stage for QE3 to sneak by everyone. With the debt ceiling discussion and the market sell off, people are going to be more apathetic accepting an inflationary QE3. If QE3 is passed, it is another attack on the poor, with inflationary measures that protect the rich.
Say "No" to QE3. Everything else is grand standing to push this one by you. America will once again be robbed by our Federal Reserve.
Attached is my final count of the market top, both on a short time frame and on a three year time frame. I believe we have definitely started the next bear market. This one should just about crush everything and everyone.
If we crash tomorrow, we should get a very very hard bounce off the 1000 mark on the S&P. Should be quite a rollercoaster tomorrow. :/
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