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[nimblebear]

On this 3rd, and most overextended parabolic bubble in stocks, this time it's consumer stocks that are going to get pummeled bc the consumer is COMPLETELY out of ammo. First it was his 401k to get zapped in 2000. Then it was his home valuation to get zapped, and 401k again. This time it's now down to the last bit of blood in the turnip, whereby, the 401k gets nailed again, the home prices get zapped a second time, and while the consumer has overextended via all means of available credit, vast majority of them will be forced to completely retrench, and completely suck down their last bit of savings. Of course by now, they don't care, and they know their bank accounts will be confiscated, and their 401k's or what's left of them will be turned into some government scheme to support the social security charade out a couple of decades longer. So this time the "essentials" are going to take a hit. Walmarts already begun to take it on the chin, and then it starts to move upscale, to Target, then to higher end retailers. And upper middle class, starts cutting way back on their discretionary purchases so then home depot and lowes and other non essentials involved with remodeling begin to drop way off even more than the last go around. This next crash will be most interesting of all, because everyone has this sense that the Fed will be able to step in once again and rescue the markets. Sort of like Abe style in Japan. This is the most stretched the S&p 500 has gotten above its 200 Dma, since before the first crash in 2000. Gravity will once again take over. Gonna be a doozy, since no bulls are expecting this one at all.