"Today the S&P 500 index rallied 7% to 823, roughly 9% below the start of the year, but more than 20% above the lows just 2-weeks ago. Since our last comments, the S&P 500 index re-tested the Nov. ‘08 lows (752), closing at new lows on 3/9/09 at 666. The next resistance falls in the range of 840-875 and then the focus will be on the 200-day moving average around 1000."
--- Dal Investment Company Market Commentary 3.23.09
Yea, but the S/P is up just 9% from the November lows. In January it rallied up 24% to 934 from November. At that point, people were talking 1000/1100 as the target. We certainly have reduced our expectations.
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