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[nimblebear]

could make for an interesting analogue to 2007. We are very very close on both, and El Erian of Pimco, says its only a matter of a few days before SNP does its thingy. Congress can't avoid it, UNLESS they come up with $ 4 trillion in REAL cuts, which would cut the crap out of GDP, and crash stocks anyway. So somebody will have to do something to keep the markets levitated above the 40 week sma, so we should see a bounce there, but the very next downslide toward that mark will be most certainly penetrated, and you can bet your sweet bippy, that there will be no HFT"S or algo's to save the market then. Notice how noone is talking about earnings which arent that horrible, but also zero people are talking about forecasts, so basically there aren't even any fundy's to come close to supporting these absolutely nose-bleed levels. Gee, wonder what happened to all those happy forecasts from last year, whene every pundit was saying we'd be on our way to decent growth by now. Yet we are tracking along at 400k per month of new jobs claims, and people are more worried about hanging on to their job, than they are about keeping their homes, which is also a big problem. In otherwords the consumer is paralyzed, or in zombieland just buying stuff anyway until the banks completely cut them off.