More Downside Will Be a Good Thing By Chris Schumacher About this article: The failure of the S&P 500 to hold the 740 level last week should pretty much dash all hopes that this market can see a sustainable return to the highs of early January anytime soon. The weight of the distribution pressure feels very similar to that of 2002, when every new attempt or glimmer of hope was faded terribly, repeating the cycle of negativity to a new low. At this point, there is no way to figure out a bottom, either technically or fundamentally. Technicals waved goodbye on the support side when the Dow lost 7200 and the S&P 500 dipped under 740. It is also virtually impossible to get a fundamental viewpoint given the uncertainty of the economic picture. Looking out six to nine months for some light at the end of the tunnel might as well be six to nine years. While I could... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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