These are just a few examples:
March, the expectation was a second half recovery. It didn't happen.
October, the expectation was market crashing, circuit breakers, etc... after Tarp initially failed. It didn't happen.
November, the expectation was 850 was the bottom. It didn't happen.
January, the expectation was for an Obama Rally this week. It didn't happen.
January, the market expects a second half recovery. It's NOT going to happen.
Currently there is mixed reviews on the bottoms holding or not. Maybe that means it will not if there is so much indecision there. If everyone expects it to hold then likely it will not. Or if everyone expects straight down to 680, it might bounce off 780. Who the hell knows :) The lower it goes the more coiled it will get. There will be more value buyers down at 780.
