2490 needed to hold on the first go round. Now that we got our bounce I would expect that 2470-2475 would be the low IF we rally from that level. I am really beginning to think that the risk of a major sell off is in the cards as the subprime mess is getting bigger than I anticipated.
It's within the realm of possibilities that if defaults increase(I would put the odds of that at 100%), the credit markets are going to get worse and 2200 is a very real target then for the Compx and 1325 to 1370 to 1320 for the SPX.
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