This is monthly chart of the S&P. Next support level 680, followed by 600. The lower support line at 472 represents the 38% Fibonacci extension of the double top pattern. Now that's a sobering target.On a positive note, one of Kudlow's guests tonight, Doug Kass, predicted that the 2009 lows will be made this week. Watch the video near the end. The intro - Buffett/Baseball metaphor is good too.
Higher $USD smashes commodities.
Click on charts to enlarge 
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