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Tyler Durden at Zero Hedge points out that the S&P 500 is now at the 50% Fibanacci retracement off the March lows. Notice the pull back that occured at the 38% retracement level previously.
Our friends in Japan had the world by the balls until 1990, after which the Nikkei 225 fell step wise from 40,000 to 7500. Something about a decline in the real estate market, banks strangled with bad loans, and an aging demographic.
Of course, what happened in Japan could never happen here, right?
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