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Nickola, the updated link now gives much more credit to your initial posting.
The 2007 scenario is now the second best fit historical pattern and is indeed weighing very negatively on the projected average scenario compared to last week.
http://www.etfrewind.com/members/Ponzo.png
I've been following the weekly updates of this most analogous chart from its inception and my subjective feeling is that it is often more a lagging indicator than a leading one. As long as we don't have a backtesting of past projections, it is difficult to draw any conclusions. Maxime is trying to do some backtesting with his own tools.
Anyway, projecting any market from only one year pattern like Zero Hedge did is certainly a flawed concept.
Billy
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