2009-05-13 8:31 pm
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Not content with the decline, we shot down and closed a hair below 885 (well, one point). I still believe a retest will come, possibly up to 920's or even 930. We do have a bearish cross on MACD and the NYSI looks like it is almost going to cross with its first down day in almost 2 months ... just need the SAR to flip also. After that, maybe we can see a move to the low 800's in a few weeks. As for the longer term, some people still see us closing above 1000 for this year. Others see a break below 666. That is some wide range ... but odds are we close positive for the year (as we did a year after the crash of 1929).
