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Thursday, 9 October 2008

600 more pts to go for 8,000 on the Dow

SPY just jumped off a cliff and is free falling now. S&P down 40% from last year highs.

Dow futures almost to 8,000. This time last year we were above 14,000.

The last 2 days we have seen 500pt selloffs in the last hour of trading. We are at a 76% fib level. We broke 61% fib retrace like butter 2 days ago. 2002 lows,,here we come.

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