2010’s One Meaningful Drop

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OK, blogger's guilt strikes again. I want to get this off my plate.

I've re-examined all my Big Picture posts, and I actually haven't changed my mind one bit – – for months I've had an eye toward 925, and 925 is still where my target is at. I had drifted into "875" for some reason, but that's too low.

The 1937-1942 analog calls for a drop within the next couple of months somewhere between the two highlighted cyan areas (ranging from about 875 to 1010). Based on a number of measurements I've done, around 925 to 930 makes the most sense. I've tinted the general target zone.

0723-spxprediction

As proof this is not just Wishful Bearish Thinking, my view is that this will be pretty much all the fun the bears can count on for many months to come. Indeed, if we were to enjoy such a drop, I'd pretty much go to almost-all-longs mode for a while (wouldn't that be something?)

Anyway, Friday should be interesting. Last Friday certainly was. Good luck to us all.

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