We are still in correction mode, which will take another 2-3 weeks to reach the bottom.

SP500 chart

I assume S&P500 will bottom at 1370 by mid-April and starts climbing again. The 90 points it will need to add to reach the top of 1470 will take about 3 month of throwing money into that hole.

3 months from mid-April is July. What kind of mood the market will have in July?

We know that a lot of fresh ARM resets will hit the fan in April-July period. The first splash of that will hit the investor face in mid-June, when May housing data will be released. It won’t be pretty.

Looking at all this I say no, we are not going to make it.

I think the market topped at S&P 500 1,459.68 at February 20, 2007 – and it will be another 5 years before we see that level again. Good buy.

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