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SPDR S&P 500 ETF Message Board

  • ibdman15 ibdman15 Jul 20, 2013 4:52 PM Flag

    Summer 2011 similarities with summer 2013

    The % of NYSE stock above 200 dma is about the same and same chart pattern as 2011 right before the early August 2011 plunge that lasted into October 2011. that stat breached 70% declined to 55% rebounded to 70% for a few days before plunging to 30% with crashing market on US Debt downgrade that Secretary of treasury Geitner said would never happen....but it did. detroit is not the end, just the beginning. How can we pay for a cop or figherfighter's pension for 50 years? say they work from 20-40 then live to 90? It is unsustainable. This market is so ripe for a major plunge now. and many more cities will go bankrupt. Count on that and a huge equity market correction this summer. the 7.5% was just a warm up for what's ahead.

    Sentiment: Strong Sell

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