Quite a week on Wall Street. The major rally from March 2009 lows now really appears to be over for good. I expect to see a final drop on the open tomorrow (also, CIT filed for Chapter 11 this morning, and premarket futures are trading negative), followed by a reversal upwards through the week. This small rally will not make new multi-month highs, and will probably top out at around 1054 on the SPX and will once again test 10,000 on the DJIA (target = 10,050). Expect to see the bulls crowing about... read more
