So, based on my conversation with Landry, here's what I expect will happen in the next day or three:
The market will rally back over 10,000 today for a while.
Then a new decline will set in which might be greater than the initial 550 point drop, which might take us under the 9700 first target that Landry has.
After that, there are some minor Fibonacci numbers on the way (e.g. 9550, 8900) but the next 'floor' is something like 7,400 on the Dow and with any kind of push/event/panic we might see that tomorrow and hit a thousand or 2,000 point down day.
Next, we'd tee up an 'emergency' rate cut because the Fed might figure that will ju8mp start banks into loaning again...but...
Then there's the CDS repricing going on and only those in Heaven know how big a money pit that will generate.
Following that, a decline to the middle of November will be in the cards, depending on the size of unraveling events, that could be 7,400 after a short intermediate rally, or it could be (forbid) Dow under 5,000.
http://www.urbansurvival.com/week.htm