According to the TV people. http://www.cnbc.com/id/37213693 That is like taking a time machine to 1988. I would not be surprised if it turns out to be the case, our economy is based on people borrowing money to buy chinese goods. Not like we are making productive use of our capital.
Smarter people than me don't know where the S&P is going but many of them spew forth their opinion anyway.
Not really surprising as it's the "convulsions theory" at its best. Namely, the oscillations upwards and downwards are getting more violent as this chapter comes to an end. The rate of ascent out of that low in March of last year was so great that the wind at your back analysts felt comfortable projecting astronomical targets for the indicies. As soon as the markets broke that ascent, it's just as easy to imagine unheard of targets on the downside. Since so much of the inflation/deflation potential resides in central banks worldwide, it's largely become a market that simply reacts (or is frontrun) by policy decisions, bailouts or the lack thereof.
If you wouldn't be surprised to see the S&P at 330 then you're an absolute idiot.. that's really all that has to be said.
quote from the article.... "From here we can see no technical justification whatsoever for having any length in the stock market," Zimmerman said. "We suggest that those still in the stock market evacuate. And if you feel the need to buy something, we suggest buying pets."