GFITS

"The S+P 500 cash is now 24 points away from the 741 Nov low. Recall that the violated
two month range below 800 "measures" down to 730. Also be aware that ANY sub-741
trade will start to create massive bullish momentum & breadth divergences, as Oct and Nov
saw peak downside momentum, breadth etc. Yes, our primary bear market targets are 650-625
from the 2009 Outlook. However, we will be getting MORE bullish as the market weakens, as LT
risk/reward stays quite bullish into 2010-2011. We WERE quite bearish in early January, as the
market was keyed to top amid 950-1000 (944 was it on Jan 6), and then drop to new bear market
lows, via our 2009 S+P 500 "Roadmap" (shown again below from Nov 21....we're in wave 5 down now)."