As the federal balance sheet keeps on expanding, the kind of juncture we are about to see might be tracking the end of QE2 in 2011. They will blame it on the weather, EM, China or Russia, but the reality is that after 5 years of this 10:15-centrally-planned-market the real economy is struggling again. has inflated everything related to the wealth effect, while the new normal for the financial industry is having one single losing day in over 4 years (Virtu)! At the end of three-peaks-and-a-dome, at the 49th bar without all-time-highs, this stretched analogy tries to give a map of what may happen, while we are approaching quad witching. Tgts and strategies are discretional, as the fractal considers one more price reaction before the major turn.