Chart Patterns and Trends

[BullsEye]

Rappaport: Dow 6000 possible if S&P breaks through November low
Keep a close eye on the S&P 500 - in particular, the intraday low of 741 set last November. "If we break that level, we could see the Dow trade down to the 6,000 or so level," says Craig Rappaport, wealth manager at Janney Montgomery Scott. "I'm not saying its going to go there, but it could." This is a time to keep your head down and be patient, Rappaport says. "The markets have suffered some severe damage," he says, but "economic expansions and bull markets don't last forever, and neither do recessions and bear markets. So this too shall pass."