However, if you know anyone who is new to markets and wants to get long, you should show them this chart.
It is correction time finally.
Hopefully the FED tapers 15-25 billion as it will give "fundamental investors" a reason to sell.
Tactical traders have already sold around $1800.
I do not believe 2014 will see a lower price than $1475.
If there is going to be a true market crash, then be patient.
2014 will be like 2007. 2015 will be like 2008 (with Libor spiking hard)
However, thats a very big IF. It would require a full tapering by not just the FED, but also the BOJ.
Many people do not realize that the 2013 SPX rally was almost entirely yen based
(yen flowing into US equities)
"BUY RIGHT, SIT TIGHT, DONT LET THE SHARKS BITE"