hi voltaire
if we experience more downside into 7th of march, that will follow the 1998 scenario that i have been talking about in my posts over the last week. i just tried to search for mclaren's report on cnbc with no luck. his last report posted on his website was from 13 feb.
http://www.mclarenreport.net.au/articles/articles/170/1/February-13-2008-CNBC-SQUAWKBOX-EUROPE/Page1.html
the next couple of days should decisively tell us what to expect next. as your chart of the spx indicates, we're at resistence. we need a close above it and have a follow through day the next....or yesterday morning's rally can only be viewed as a head fake and the probability of a low on the 7th of march more likely.
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