If it is a true down trend it should be like this: On Monday market goes up like 80 to 100 points and people feel confident that Friday was a short term correction and then on Tuesday it drops another 200 to 300 points. The main yardstick is the close on Friday next week. Will it be higher than today or lower?
IMO it's important to analyse, but not to overanalyse, so far we have a 3TOP, a break of weekly TL and SPX ought to head to 1800.
Define who you mean by "they". This might be funny to hear what you think. Not sure if you live in dream land as bad as S2007S, who also says "they".
Nobody knows what's gonna happen next monday, but if the dow still closes down +200 points, the bear will be in the play.
And sure enough, man I can see this stuff coming a mile away. http://www.bloomberg.com/news/artic...n-stimulus-pledge-with-bank-reserve-ratio-cut
I guess our economy is going through some tough time and I expect the market will go even higher. That's the new logic. The worse the economy is, the higher the stock marketwill be. Look at the European stock market, you know that.