I would love to say 1570, but looking at everything, its hard to avoid the issues confronting everyone. Past drops, the market had some reserve to fight off this contagion. But the current consumer has no reserve left. I usually am not this pessimistic. But it seems to be a global winter setting upon us. Wealth is being destroyed behind the scenes, that is not blatanty evident to the common man. There are things happening that your every day joe schmoe doesn't realize is happening. The warning signs are everywhere, the FED should take immediate action and not let a month go by before a possible cut. What good is speculation if you think the bank/broker that holds your funds has a chance of going bust. Thats the quagmire the speculator faces today. Make large bets on the impending macro implications and possibly loose your cash from the broker going under..rather then your bet coming to fruition.
CAPITAL ONE's in trouble now. Every day something. I vote for 1370. Re the error: Why not just restart the poll? It's a timely question.
After March 2000 and the SP 500 was off 100 points from its highs, and someone asked you new low or new high, I would imagine a good percentage would have never thought the SP 500 would drop a further 700 points before stalling out, and take 2 years to consolidate. In dot.com there was still some wealth sloshing around, from the appreciable gains from the bull market. The public is not as wealthy as before, this downward progression will take longer then 2 years to consolidate itself. So question becomes, is the sp500 going to drop 700 more points? Everyone is waiting for the FED rate cut to sell into, to get out.