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Itz continues to see similarities to the '03/'04 $SPX chart. Looking at the earnings for the S&P 500 granted the '10 & '11 are estimates and may come down. But that said, 2003 & 2009 saw a bottom - followed by a huge rally. then as in 2004, 2010 was marked by a sideways to down trending market. In November of 2004 the market surged to a high. Could it repeat if a favorable mid-term election or an extension of the Bush Tax cuts occur?
Ohhh! One other fact on August 17,2004 the 50 day moving average crossed below it's 200ma 'Death Cross' and 1 year later the $SPX was 18% higher! Hmmmm?!