United-ICAP senior technical analyst Walter Zimmerman says the S&P 500 cexpects “traumatic decline” in 2012, dragged down by weakness in Europe.
His downside target is around 579.57 for the SP500… He expects 2012?s price action will mirror what the S&P 500 did from its Oct 2007 peak until it bottomed in March 2009.
Hmm… Maybe he has been looking at my recent chart? 
(Click HERE for the chart, and HERE for the entire article)
“If the history of debt tells us anything it is that one cannot solve a debt crisis by lending more money to the bankrupt and the insolvent,” Zimmerman says. So says Willem Weytjens: Solving a debt crisis with more debt is like F*cking for virginity…
Source: WallStreetJournal
