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S&P 500
5,995.54
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0.38%
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US TECH 100
20,562.00
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0.10%
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Dow Jones
43,988.99
(
0.59%
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Brent Oil
73.89
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Post# of 77475
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ajtj99

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ajtj99

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Re: opnion post# 45832

Friday, 10/10/2008 9:23:32 AM

Friday, October 10, 2008 9:23:32 AM

Post# of 77475
Well, the 1929 crash pattern would have us hit about 815 SPX today, close at about 850, then move up to back-test 960 on Mon/Tues.

The big problem with that is the Friday/Monday effect, where a drop on Friday tends to carry through on Monday.

If we don't get a drop to 815 today on the SPX, maybe it will come Monday.

Of course, we have support at 768-786 on the SPX, and 800 is a fib extension off the 1440 SPX highs.

If 7198 Dow falls, there's really not a whole lot between that support and say 440-480 SPX. I would have thought this unfathomable just a week ago, but this drop could be the equivalent of a 100-year flood.

http://www.investorshub.com/boards/board.asp?board_id=1613
AJTJ's Market Pulse
Do your own DD. Void where prohibited. Observed side effects include darkening of the stool, spontaneous amputation, and death. Rosebud.

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