Autosime, I've developed a US banking market crash seismometer...

Autosime,

I've developed a US banking market crash seismometer tool that I blog about on another site.
It measures the gap between 8 large banks and the S&P500 on monthly periods and I've collected the data back to Nov 1997. The monthly periods I use end on the 20th of each month and I haven't updated my charts since July 2015. I'm pretty sure that up to the 20th of July 2015 there was no exodus from banking stocks in the US as they were leading the index higher coming into August. I'll update my charts for August and repost them for you but I'm also pretty sure there were no signs of US banks being overly sold up to 20 August 2015. The up shot being, if the banksters have got out of the market they haven't got out of their own businesses in any big way. The current turmoil has come on very quickly. In the months prior to the worst of the crash in 2008 my charts show a lot of "seismic" activity. If August/September are leading us into another crash it doesn't look like the last crash which happened with far more warning and unfolded over many many months. I'm watching for the 1800 level on the S&P500 and the 1550 level on the DJIA to be breached as a sign that the markets are too far gone. These levels are about 15% below each indexes all time highs. It wouldn't take much to get us there and the Fed is literally playing with fire if it pushes the button on the rate rise. That's why I think it won't happen.

Eshmun