S&P 500 1260 1 21 8

S&P 500 1260 1 21 8

1:36 PM Pacific Time

Well, if we get hit 5% too,

that would take the S&P 500 down to 1260.

The 240 week moving average is there

and was the support found April 2001.

This is were support was found the summer of 2006

when Chairman Bernanke made his first error that May.

The P/E of the S&P 500 could be getting very attractive,

if Bernanke drops interest rates a full percentage point

to address his hopeful awareness of this

huge elimination of wealth around the world.

On his track record,

I see 1,100 as a final low.

Greenspan would have acted last week.