Of course what you fail to grasp is then when it does hit 1252 that doesn't signal the start of the bear market - that just means that we have been in a bear market all along - and thus you have been wrong. The 20% decline is the confirmation, not the start. Just broke 1300, getting nervous yet? Your days on ET are numbered...unless you break your word.
I'm keeping my word If 1252 breaks on the spooz I'm gone Keep in mind though that the Dow and Spooz made historic highs last year which confirms the bull market. Am I scared? Not even close
So after falling ~17%, you don't think there is much chance of it falling another 3%? Dude, time to wake up and read the headlines. The market is going into the toilet, big-time.
1252 isn't any number; it has very deep phycological implications. The funds and fed wont let it break without a fight.
Thats not very comforting. The Dow and Spooz made historic highs in 2000 then in 2001 it was all downhill. I suspect that we are guaranteed to hit at least 1260 at this rate. Now if its a retest or not, time will tell.
like the fed is concerned with the s&p level. they look at the real economy. the stock market never matches the real economy and a decline in the indexes is always healthy.