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The Terrarium

Terrarium

Is there a better environment then a global credit crisis to replicate the arc of emotions and reflexes in the markets as credit is squeezed from one corner of the globe to the next?

It simply grows big beautiful ferns, I mean fractals - same thing.

And while the 1st wave of the crisis was home grown and materialized over the course of one year, the 2nd wave has very much taken on the same shape and proportional dislocations to the financial sector. Granted it has transpired over a longer time frame than those halcyon days of 2007, but the technical damage, momentum and performance signatures are there in plain view.

Waves of a Credit Crisis

Waves of a Credit Crisis

Waves of a Credit Crisis

Whether the time differential is the efforts of our monetary handlers perceived and new found dexterity in dealing with the tentacles of a global credit crunch the second time around, or just the consequence of a slowing financial contagion/universe - will be up to the academics and historians in the years to come. But I can attest to the similarities in sentiment, the charts and the degree of hubris now being dispensed from both traders, the financial media and central bankers themselves - in curtailing the effects of the crisis.

2006-2007 - 1st Wave SPX NYHL

2010-2012 - 2nd Wave SPX NYHL

 

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