For some reason futures lower, but the volume is still light and there is still tons of support in the 8100-8400 range that wont be so easily broken. stocks are still forming a base. this isn't a breakdown.
640/650 is serious key support for the S&P. We have to break the lows of 08, first. The news is far worse than what the "Gov" and Experts are spouting. I think the word Depression will sink in as a Reality for two reasons. The media keeps hammering the point to the consumer. Thus, emotionally, the consumer will scale back far more than they have to. Second, the FED & GOV are not telling the full truth. When it comes out, Panic in the overall Markets will set in. 4th Quarter 08 was the start of the fall, not the decline. The next three quarters are gonna be bloody. But Einstine said "In the middle of Difficulty lies opportunity". R you ready?
Even better will be a few years from now when he's saying: "There's really good support at 0. No way we take out 0. The 0 level should hold." <BLAM! self-inflicted gunshot wound to the head>
Never short the fed. ever. Ben says more weakness..slowdown..blah blah blah. The most important statement from the fed is that more action needs to be taken, which means more stuff that bears hate such as stimulus, bailouts, tax cuts, etc. These stimulus, bailouts, rate cuts, tax cuts, rebate checks, DO work which is why bears hate them.
You know nothing about economics, inflation or capitalism.. This statement should be saved forever to note the folly of your ways... You are the world's biggest dipshit...