How Bad Will It Get for the Stock Market?

Okay, we’ve talked about all the gloom and doom. So, now what?

How will you ride out this thing? When might we see a glimmer of the end?

It’s going to take returning strength in fundamentals. It’s going to take confidence in our political stewardship. A strong consumer holiday season would be great also.

In the words of a classic holiday song, that’s what we want for Christmas.

Going strictly by technical analysis of lines on charts, the message is grim. Tuesday’s session saw the obliteration of a level that had held for 10 months, the intraday low on the S&P 500. Below that, barriers thin out. The S&P 500 moved quickly from one round-number milestone, 2,500, to another, 2,450, in just a few hours on Thursday.