Doing some serious charting this evening. Fibbonacci numbers from the 2006-2008 top put us at 675-695 SPX target. Based on all of the other doom and gloomsters out there, probably have found a level to rally from.
Saying that, where can we go? My theory is always to a level beyond the mass expectations. Just like we have sold off so far so fast, it will be the same on the upside. So buckle up and get ready to rumble.
Taking in to account the fiscal dollars flooding the system, and using 1931 as an example, 50% from these levels puts us at 1050. Just north of the 200 day as well as the high of 2008 Q3.
Crazy, yes, but that's what got us here in the first place!