So comfortable had I become with the stock market’s daily, thrusting assaults on rationality that I neglected to consider even the possibility of a decline, especially one so refreshingly nasty as what we saw yesterday.  My good friend Doug B, The Savviest Financial Advisor I Know (the number two guy on the list is not even close, by the way) thinks this is the beginning of a devastating correction that will bring valuations more realistically in-line with an economy that we both agree is headed into a full-blown Depression.

While he has logic on his side, and even some contrarian boost from the hordes of advisors he insists are too, too bullish these days, I’m going to fall back on technical analysis alone to tell me what might come next. So check out today’s touts for the E-Mini S&Ps and the Dow if you’re interested in a closely reasoned look at the charts using Hidden Pivot Analysis.

Incidentally, I’ll be taking a look at the technical runes in real time later this week. Details will follow shortly, but this will be an online analysis session open to all and to which you can invite your friends.