It doesn’t mean it couldn’t happen, although Hanky and Bernanky will do all in and outside their power to keep people spending moeny they don’t have.
But the timing PS gave is about 6 months, not the 12 that tracks 79%, but even still, we haven’t seen the worst of housing that will continue to drag on our economy for years to come and things are different this time.
The chart didn’t account for the raid on the dollar’s value we’ve seen only delaying the inevitable.
The S&P at 600 may be a stretch but the rally we saw today is hollow.