in my opinion
first off, the money spending MUST slow. They want to raise taxes and reduce the deficit. Obama is pushing health care, which costs money. Slow the spending and the market crashes in anticipation.
Technical, look at sharpcharts or some nice candlestick chart, maybe one year. Pointing down, I think.
I think spy can fall to 114 pretty easily. Sounds far off now, but watch after the selling starts and Wall Street wants it to fall to collect on its short positions and to buy low. That's how it works. They make money when the market moves up and down a lot. Same here.
This is wishful thinking. Any selling can be countered by Big Ben with more printing. The crash will happen when most people least expect it, and that's not now.
There is no doubt that there will be violent up and down moves this month, however, at the end of the day there will be some kind of cliff deal, and that will provide emotional support for the market for at least one or two quarters out.
Frankly speaking, trading right now is a loser's game. It is better to sit on the sideline until this storm is over.