China fell so badly today that I think the DOW will sink further in which case ASX will follow suit Tuesday, but by a smaller %. Looking at a 10 year chart of the S&P 500 and it definitely appears to be rolling over, slowly but surely. The current top appears very similar to 2007 top. Jan 2016 is starting to look like January 2008 (very scary). Also the time spacing between major market peaks is fairly even which increases probability...ie....2000 tech bubble, 2007 housing credit bubble, 2015 US money printing bubble. This would mean a major crash for US stocks in 2016, with risk of recession soon after. Just my view of the charts only. I had been hoping cheap oil and low interest rates would kick start world economies, but possibly too much wealth has been hoarded by the ultra wealthy, to enable it to happen.
SPO Price at posting:
92.0¢ Sentiment: Hold Disclosure: Held
