During two previous attempts to break through 1500 S&P was demonstrating a very strong resistance around 1520 area and was moving off from it to the test of 800 zone twice (in the second attempt it actually broke below and then breakout failed). Currently, it's quite close to 1520 "death zone" and probably by May we would know whether another global crisis is coming or not.
Comments
MIAMAN
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nearer than we think.
QuantitativeExhaustion
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The Canaries In The Chinese Coalmine
When this all blows up, it won't be pretty. There are indications that the Chinese authorities plan to rein in the shadow banking system in 2013. Here is the problem. Loan growth has been anemic in the formal banking sector...