APT Chart, page-1856

While the Fed may be printing money it's not the Money Supply M3 that is the deciding factor.

Its actually the Velocity of money that makes the difference. That is how many times that single unit of currency is circulated in the system leading to an increase in overall spending.

But data coming out is firmly in favour of a curtailment in retail spending.

This is not like the sir com bust or Lehman Brothers crashes, as there has been a complete reset of the consumer psyche with everyone in fear of what the future holds for employment and family.

Non discretionary spending will take a back seat for a couple of years at least.

Shooting star candlestick on the APT chart which can often mark the end of the uptrend