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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 680.28-0.5%Dec 1 4:00 PM EST
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To: Les H who wrote (23774)8/25/1999 2:18:00 PM
From: Fun-da-Mental#1  Read Replies (1) of 99985
 
IMO the Bank One drop is a pivotal event since it indicates the beginning of a credit crunch. Consumer spending has hit a wall and this will have a double effect on the stock market, first of all because it will lower earnings, and secondly because people won't have surplus money to buy stocks.

There seems to be a battle developing between inflationary and deflationary pressures. It doesn't matter which wins out, we're passing the peak of the business cycle.

That's how it looks to me. Alternatives?

Fun-da-Mental
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