Read The Fine Prints (AAA or AA+)

Looking at Friday's close on the DJIA and the SP500, one would think the market is making a comeback. But if one pays attention to the market's breath and read the fine prints, then one would see there is nearly 1500 more declining issues than advancing issues and almost 700 issues made new lows in the NYSE. That is not a sign of a market making a comeback. Couple hours after the market closed, US got downgraded by S&P from AAA to AA+. Where is the market heading now? From the SP500 price chart, here are some possible levels it might reached in the near term (click on it to get a larger view):

SP500:



SPY (SP500 ETF):