I am not as experienced in share trading as some people on this forum and bow to some of the technical analysis shown by the likes of Hoop. All depressions which is the likely response from the events that are being played out at this moment need either a trigger- the Cuban missile episode is an example or a CENTRAL bank decision that goes against common sense. The possibility or probability of the raising of the interest rates by the largest central bank the Reserve Bank of America is the case in point. In 1927 they did just that to 5% and this was the main trigger for the subsequent depression. They also prolonged the depression by raising the rate again in 1937 only WW2 pulled the US out. This one is hanging on the cliff as the Federal Reserve who in my view created this bull run only care about two things the Americian job data which has risen above their threshold and the inflation rate. The trigger in my view will be if common sense prevails by the speech by the president J Laker on the 29th of this month on the inflation rate and the subsequent decision on the Feds rate hike at the September meeting. PS It is interesting that NZs M/A 200 line has not been breached, maybe this is because the NZ economy is one of the few that are relatively free of government interference??