Graham Summers’ Weekly Market Forecast (Crash Time Edition)
The market onslaught of the last week is now staging a snap-back
rally. As I write this Sunday evening the S&P 500 has pushed to
1,143 in the futures markets. This was to be expected as we’d come up
against the neckline for the Head and Shoulders pattern I noted the last
a larger perspective, 1,110 is a line of MAJOR support. The S&P 500
spent a major portion of 2010 at this level. It’s also the level at
which the S&P 500 staged its last bounce before entering the 2008
So this is THE line to watch in stocks. Once we take it out, we’re
going to 1,000 in short order. By the look of things, it won’t be long.
Indeed, last week we got a confirmed SELL on my proprietary Crash
indicator. This is the SAME indicator that registered before the 1987
Crash, the Tech Crash, and the 2008 collapse.
It's just triggered again... which means that last week’s sell off is JUST the beginning of what's coming.
Yes, the GREAT COLLAPSE has begun. The markets will be going to new lows (below the March 2009 lows) in the coming months.
We're also going to be seeing major banks go under, market crashes, food shortages, government shutdowns, and SYSTEMIC FAILURE.
Yes, I believe that before this mess ends, the financial system as a
whole will have collapsed. What's coming is going to make 2008 look like
Many people will lose everything in this mess. Yes, everything. The
US is going to be defaulting on its debt, paper currencies around the
world will fail. It's going to be a dark dark time.
If you have
yet to prepare yourself for what’s coming, my Surviving a Crisis Four Times
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