We are back at the SNP levels creating a huge head and shoulders. Next support is not so clear. Many have called for 600 being some kind of support, so if we fail, maybe a strong bounce there???
Looks like we're gonna test and break Dow 7500. S&P 400 is absolutely realistic. S&P at 500 would be a little more realistic.
Tomorrow can be the test of new lows on the market, as I said at DOW 9000 new lows are coming and they are coming soon, we could get a bounce or 2 from here however I still believe we break through the lows set just 2 months ago and head down further, at that point I would be buying for a bounce, the market will bounce eventually, it always does. I hate saying it but I do see banks bouncing 20-40% very soon, I believe with some of these earnings we now know what to of course expect from the rest of them.
The bears have been wrong in one thing, they havent been bearish enough. This hints the fundamentals are worse than they think, at this point we can't rule out anything, from hyperinflation to a deflationary spiral
Wrong. The economy is still fundamentally strong. IBM crushes estimates and guides higher. LOL no deflationary spiral either. The core consumer price won't budge.