did you mfo's look at the charts I have been posting...we are in a bear trend now...once 1180 broke but esp. after 1140 broke down...look at gold and silver charts they are clearly broken now...I expect the rallies to be very short lived...but once we see 1000-50 ES we should see a buyable bottom...this should happen soon.
Then look for a decent rally followed by a steep decline into Nov is what timing studies say...once we break 1000 there will be panic selling to 900...then Bernanke breaks down and gives us QE3 to stop the mkt bleeding but it will guarantee us steep inflation and our economy will suffer again as the money will go to the banks once again and the avg Joe will see nothing but a cap on stock mkt declines.
These are jmho's of course...
BTW, when gold hits 1500 level I will be buying more physical metal getting ready for QE3 inflation party.