As promised, here’s my forecast for the markets. Not too surprisingly, the forecast is down. Click on the Chart to enlarge

Then:

Click Any Chart To Enlarge

Now:

Going Forward

I wish there were better news, but the next level of support is the 61.8% fibonnaci retracement level at 1091. After that there is a psychological support level at 1000. Anything below 1062 wipes out the long term rally that started in March of 2003 and, perhaps more phsychologically damaging for the economy, would mean a 33% drop in overall value of the S&P.

Here’s a Chart You Haven’t Seen Anywhere Else!

If this chart plays out, we’ll all be broke!

Last 5 posts by Steve Warshaw

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