Black Friday 2?

20 Feb

Taking a look at the S/P and Dow, we are at, and coming into a major support level. The Dow, closing at the lowest level since 1997, has the potential to break down into “open space” meaning the next support level is not clear.
The S/P is not far behind, just off it’s November 08 lows which coincide with the lows of 2002/03. If we see a break of the S/P 740 or the Dow 7450 we could be in for some serious panic selling. Be prepared for extreme volatility, and as we stated before, a potential surprise rally which could come at any time.

The largest bull moves happen in the context of a bear market.

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