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| April 6th @ 7:45Am |
There's NO DOUBT in my mind that a GOVT shutdown this week will coincide with a WALL ST -LEHMAN type PANIC such as we saw in Spt 2008, and will be viewed in a similar fashion as the US Govt's inability to pay its debt- true or not doesnt matter- when Panic strikes
Today as prev mentioned has some strength at 10:41am, but should hold its own till tomrrow when the first warning across the bow should be felt.
Impact stream above shows early strength, but loses it later as also indicated by the EKG
Jay
4 comments:
Jay,
Can you comment on why panic will start with a govt shut-down? They have shut down in the past and it had little to no impact on the market. Why is this time different?
HI JOHN
YES thats VERY TRUE- the effect of a GOVT shut down has never caused or COINCIDED with a panic
However a panic did occur with Lehman BK, and we see similar energy approaching in the next 10 days thru the 18th.
ITS what Traders THINK, reality has little to do with it, if they are looking for an excuse to SELL.
Look at the charts since Friday
SPX attempts to break higher are meeting with RESISTANCE
Even with NO Shut down, we will see some kind of setback, but we all know that panic selling always accompanies shocking news
Jay
Dear Jay,
Do you have the EKG/energy for next two days. Are thu and Fri down days?
TIA
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