Horrific fundamentals . . . are masked by a ‘comfortable’ market advance, which for now has been able to absorb all contractions in stride. However over time labor pains eventually yield delivery and for the market that will be (as the Daily Briefing outlines).

      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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