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Is Dow heading to 4000 points?

Today I have read Jon Markman’s commentary on a crisis. In his paragraph “A Credit crater too big to fill?” he writes that Dow Jones can easily sink down to 4000 points level, because of the weak economy which can not be fixed by election itself. Wow. Is he serious? He provides calculations why he thinks he is right.

If he is right, we are heading to a huge and deep drop. Also when looking at the market, it is still hard to say, which direction it will go, see chart:

Dow Jones

It may continue growing along its support line, or it can end recent rally again. Today, the market responded to bad news of economy negatively, the only good news could be the low volume. So let’s see what would happen next couple days or week.

Tip: Save your money, do not invest into any new positions, build a watch list and wait for the market to tell when it is the best time to start buying stocks. This beginning rally still may fail.

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