Somehow I tend to think that this crash never set a panic/crash tone in sentimental way although price action clearly demonstrated the greatest panic of the last two decades.
I don't know, maybe I am missing something. Because of the fact that xTrends called the crash at the precise time and price and 10s of thousands here were enjoying the move, this could mislead me in reading sentiment overall, perhaps.
However when I think about the stuff coming down the pipe these days, I think I may be right about it. Seriously, is there anyone out there buying BAC for an investment? Do you really think its end will be different than AIG, WM, LEH, BSC, MER, CFC, WA, FNM, FRE, C ...
When was the last time you check xTrend's archives to see what I was telling about all these tarts including BAC. Don't you suspect that most of the banks could end up like them since they all now are showing similar setups on lifetime charts?
Since November, the market has been chopping without a trend. AND without a spine because something has been broken on Dec 1 2008, with monthly gap. The market is consolidating , compacting energy for the next sell off. So far, the median range since Nov 2008 has been 800-950. This will soon change. When it does, hopefully I will be there again and hopefully I will see some crash sentiment to feel more confident about SPX 600 level.
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