The gaping black hole that's been this market since November continues, and today's (November 19, 2008) big sell-off is no exception. In fact, we've been delving down into this black hole since June, and despite the best efforts of central banks around the globe to stem the decline, the deluge isn't over yet.

Right now, we are staring down the barrel of 800 on the S&P 500, and if we fall below that psychologically and technically significant barrier -- look out below.

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