Tuesday, July 31, 2007

S&P 500- The first to break support

From the support levels that I showed the other day, the SPX was the first to break below key levels on that nasty reversal day today.

It seems that most people aren't too worried about this decline. I'm not either, but I do expect it to be longer and deeper than most people expect. I'm not going to jump in until their is a little panic going on.

What is crazy is that the Russell 2000 is now at the highs of May 2006!

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