Do you think the U.S. stock market is due for a major correction?

I believe the major correction has already occurred. However, there will continue to be minor "corrections" as we bounce around within the range we have been trading in: roughly 840 - 940 on S&P, and roughly 7850 - 8700. Those could also be considered "support" levels. But the ACTUAL levels could be plus or minus about 5%.

If they break through these levels then we should see a correction in the opposite direction. How much of a correction, when, and the duration would also need to be determined. But we should remain within those ranges (those are Nov. '08 levels and trends for past 3 months) until the 4Q of 2009 or 1Q of 2010. Especially since housing is bottoming.

That is simply basic technical analysis, more in depth analysis would allow for a better picture or understanding of the support levels.

Where have you been? The market is in the middle of a correction and has been for over one year.

I am worried about the stock market and this country's future. The massive spending buy the government has got to stop. They are printing money to pay debts which is causing the dollar to weaken, if this continues, we will not care where the Dow is because the dollar will be WORTHLESS.

We seem to be in one now. I do not know how major it might be. There is a major support level for SPY at 87.84. There is also resistance at 92.00. Below 87.84 there is very little support.

what difference does "due" make? Mr. Market is going to do whatever he decides to do -- you have to remember that one of his goals is to take as much of your money as possible and never give it back.

Imho, if you are asking in here about the market and technical analysis, you have no plan and thus should be completely out of the market until you do have a plan.

Thats tough to say. I mean, we are in a correction right now. I think the support levels for the dow may be at 8000, but i cant tell you for sure.