Waking-up the ghosts of the past . . . such as the comparative patterns analyzed here relative to prior ‘depressions’ in the United States, isn’t necessary to understand we believe that rather than being ‘kicked-up’ to a particularly higher level, investors at this time should be making preparations for (as outlined in tonight’s Daily Briefing).

Yes, ‘shock and awe’ crisis management may be largely behind (Govmint and media says so; reality such as the ‘State of Emergency’ declared in California late today do not; in fact they suggest the opposite is developing). (More on Calif. by text & video.)

   Dow Jones Industrial Average chart:

(chart courtesy Quote.com)

MarketCast (intraday analysis & embedded Daily Briefing audio-video). . . remarks forecast substantive failures by banks or other areas; following breakdown action, as we've outlined. Remember; back in early 2007 we denied the 'liquidity' momentum as a canard; believing housing only the first of the asset bubbles to deflate. We outlined structured investment vehicle failures; banking issues, confluence of asset deflations, and more; continuing with interruptions per projecting long ago: 'a perfect storm'.

As the debt bubbles continue to deflate, alternating tradable moves continue from a trading perspective. Against that backdrop retaining a macro (adjusted) Sept. S&P 1600 +/- short irrespective of interim oscillations. Technical analysis via video follows

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