Its Over, page-1602

Alan Greenspan is probably correct when he says that a market crash could bring about a US recession - or I should say hasten the path to one. At this point, it would be a daring call for one to make a call for an imminent crash in the very near future as the risks felt like abating - but wait, it felt like but it has by no means gone nor even reduced.

As I mentioned the other day, we are at the point of inflection - and with the S&P500 breaking 3k and almost topping its all time high, we need a strong follow through action in the market this week to bolter market confidence that we could be out of the woods at least from a technical perspective. But so far, the push upwards is not one of conviction and as I indicated earlier, it defies conventional logic that the market should trade higher than before when none of those risks were present or were as adverse as they are now.

Psychologically, the market needs to get out of this week - because today is the Monday of the most feared week in the October month- the Black Monday of 1987 crash was on the 19th October. There are market pundits who fear we are nearing a market blow top and once we hit resistance at the top and it starts racing down, there could be a stampede to exit.

Optimism and fragility can be just a hair away. There is more than what we see at the surface.