SP Index at 1400

"The S&P 500, on several occasions attempted to close above the 1400 point level and failed. Now that the relatively good earning season is almost over, going forward, the S&P will be at the mercy of economic news. Since the economy is facing further contractions, then the S&P has no where to go but down."

This statement could have been written by any one of the guru analysts and the market would have reacted instantaneously to the down side.

Technical analysis would indicate that there is truth to this statement. I think this is a possibility however, these days with the hyper reactive speeds of the market, anything could go.

So be careful out there. Protect your down side.