If it looks like the worse is over for the stock market, it may not be. Since the market will do all it can to make you wrong, I expect that the rally from today's low is an attempt to do just that. The DOW can reach for as high as 12372 to 12446 and the S&P (cash) as high as 1360 to 1370. The rally may be a meaningful one but dont fall in love with long positions. I expect a turn down from that area, to new lows.
A cut in interest rates should temporarily stop the bleeding. No one person or group can reverse a market. It must turn on its own with no external help.
The statistical downside targets measure as follows:
S&P (Cash) 1210 to 1175
Dow down to the area of 11000
The bottom is expected to take a while to be put in but, the market may wait until the november elections to make an upward more.
JbG
