S&P 500 Tea Leaves

Another poor attempt, by me, at reading technical tea leaves.

White line below would be a test of secular bear market lows back to 1982 at approximately 700.  Red line represents long term, historical highs without the cheap credit and leverage of the 1990’s and 2000’s.  Green line (approx 950) is a guess at a likely best case high in the near to mid-term.  I’m willing to bet that we will at worst be trading in a range on the S&P 500 between 700-950 for the better part of the next few quarters, unless something extraordinarily good or bad happens. Citi?

S&P 500 Chart 11.28.80-11.21.08 Monthly

S&P 500 Chart 11.28.80-11.21.08 Monthly

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