[Vanity]

Update:

I said before the trading range was going to be bound between 1180-1220, with a likely rally occuring soon to relief the over-sold status. But, this is just something to keep in mind, if we break 1180 and hit 1165, expect us to begin retesting October lows (1074 on SPX) on the markets. October would have been a bounce on the way down instead of an indication of a year-end rally.

I'm still expecting some sort of relief rally (mini or large), though the time forecast is bound within a week here. Most likely situation is we have a "dead-cat bounce" rally, then we chop lower. Interbank lending in Europe froze today. ECB now only lender of money to Banks -- don't even talk about sovereign debt. Might finally see that French downgrade soon. Perfect timing would be after a rally. So I'm expecting downgrade soon. But it will be interesting to see if this projection has been kicked down the road 6 months. IMF lending program started today will give access to 500% - 1000% rapid lending of nation's borrowing quotas. They're doing this to insulate the markets from shock for about 6 months, we will see it being tested thorougly when they finally decide who does and doesn't qualify.

What are everyone else's Intermediate Trend bottoms? Mact?