Updated charts

I'm going take a history break and focus back on the here and now.  Why?  Because it's not looking so good.  Here's the chart again that I posted almost two weeks ago on 11/4.

Nothing has changed on the chart except we're further along and the market is getting very close to last call.

As you can see, a drop below this line takes us into that last support area between the two lines from the above chart.  A drop below what looks like 11,600 or so, and it could be a bumpy ride down to 10,500.  Below that number and your guess is as good as mine where it stops.

The fundamentals and the news have not been good at all, so a holding of this support in unlikely without some kind of government support of the price.

This is basically the same as the above charts, only the S&P 500, and a lot nicer write up with technical analysis.
http://www.oftwominds.com/blognov11/assume-crash-positions11-11.html

But here was the eye opener for today. We'll see if he's right.  My guess is no and that the European Central Bank will enter the market and purchase whatever bonds need to be purchased to eliminate the chance of a a run.  At least for now.
http://gonzalolira.blogspot.com/2011/11/were-in-middle-of-run-on-europeand-its.html

That's it for now...back to history tomorrow unless something drastically changes in the sleeping hours while Europe trades and we sleep.


UPDATED TODAY....SEE COMMENT #1.