According to what I'm seeing the chart below pretty much depicts the majority of index charts. A downward bear channel where the top of the channel was tested and failed. If you look back the last time this channel top was tested and failed on 2/3 & 2/4 you will see what is shaping up to be some nasty downside movement coming. This is NO time to be long, ANYTHING, unless you are into inverse ETF's like the TWM just to see charts go up instead of down.
Bottom-line: We will test and probably blast through the 1/22/08 low within the very foreseeable future.
And for your entertainment pleasure I think this is a fitting video.
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