I think the first leg of this correction in stocks is waning a bit as the highly overbought and complacent condition is being worked off, and new shorts are engaging in the market to be squeezed by steady buying in light volumes led by the SP futures.
Perhaps another move down, while Benny's dose of liquidity directly to Wall Street takes effect.
Excepting some event, it is hard to imagine a protracted stock market decline at this time given the artificial support that Wall Street is receiving.
The pigmen feel that they are firmly in control of both NY and Washington.
"The real collapse of our currency began when it became evident that certain industrial circles were more powerful than the government."An Economic Philosophy That Has Completely Failed, William K. Black
Adam Fergusson, When Money Dies
'Failure' depends on what your objectives are. If looting for short term benefit of the Wall Street monied interests and their well-oiled Washington support system, things are working quite well.
