The S&P is only 6-10 points from another August/Sept bottom test (1,120-1,125). With the recent news from Greece of missing their deficit targets and today's sell-off in Asia and Europe, today is shaping up to be a test of whether we go lower from this 2-month trading range or not. If you look at the all-time chart, it looks like, yea, we go lower here for maybe until spring. Posssibly another test of 10k Dow and 1k S&P, maybe a trading range between what, 9k Dow to 11 (?) until growth really resumes, which some economists are suggesting is usually about 5 years out from major financial crises like the one we experienced in '07-08. Oil is down another buck already today.
Anyway, pards, it should be an interesting day. Buckle up.
P.S. I was going to do that analysis yesterday of the the clean E stocks with lowest price-to-sales (P/S), P/Book and P/Earnings but couldn't get to Yahoo portfolios pages the whole day. I'm reporting most of the best stocks with those lowest numbers in the daily reports anyway, though. My guess is most investors are still avoiding clean E with the loan guarantee investigations still in political play. Solar takes the brunt of that. But, like I said Friday, if this isn't bottoming of clean E stocks in general, we're in for a heap of hurt. Otherwise, there will still be daily froth, quick breaks off the bottoms and individual stocks that go up despite the market. And, again, I don't sell short.
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