Chart Link
Take a look at the chart - and at the comments on the chart.
This suggests that we are seeing the end to a bear market rally. This downmove could easily test 7286. If it goes below that, we are likely to experience the greater depression. I use that term as an accurate descriptive, without hyperbole.
Our problem is not the news today. Take a look at the news since the high on Jan. 19th. The media have been full of spin that suggested good news. When rallies end on good news, it's a bad sign.
I respectfully suggest that we should prepare ourselves, mentally and otherwise, for an extended period of financial challenge. Pay particular attention to state and city governments as the squeeze between tax revenues and spending gets tighter. Also, keep an eye on pensions, both public and private. Those are the ticking time bombs that are wired to the supports of the skyscraper we live in. Should they detonate - and I expect they will - there is (in my opinion) a risk to the structure itself.
Jest:
I wonder if one of the QP's in foreign lands would consider hiring me as a butler? 