The S&P 500 closed at 768.54 down 15.50 (1.98%). If the S&P 500 breaks below 760, we could see a move down to 740. The Dow closed at 7278.38 down 122.42 (1.65%) The Russell 1000 closed at 417.54 down 8.69 (2.04%). The Russell 2000 closed at 400.11 down 13.15 (3.18%).
Next week will decide the extent of this short-term pullback. With March 31 fast approaching, I would expect to see all the markets make a nice move off the lows which will probably occur some time next week.
After this next pullback we should see a rally back to 8,000 on the Dow and 800-820 on the S&P 500. The Russell 1000 & 2000 should perform similarly.
$2.46 (03/16/09)
