Dow futures down 277 (not a mistype) as we speak.
Look out below
The Dow going down over 200 happens all the time. It happened the day after Obama was elected. When the 1st TARP vote was taken and failed, the Dow Dropped 500 immediately. The problem is that the government has too much control over the actions of the economy.
Looks like it’s done the 38% fibo retrace. Now we’ll have to see. I say S&P 500 @ 666 (again) would be the ticket for a few months from now.
Just think what will happen to the stock market if we keep spending at record high levels and incurring trillion dollar deficits each year. This isn’t about the stock market, it is about the survival of this country. It will take a crisis to focus the attention of both parties who would rather continue kicking the can down the road.