abigail doolittle, talking numbers here. maria?> all right, wibill, we have about 30 minutes left in the market trading today. we're looking at financials rolling over a bit as we approach the final stretch. coming up next, easy come, easy go, the dow losing its grip on 13,000. is this the end of the rally or a buying opportunity. our experts will weigh in, and we'll get you set up for tomorrow's trading session. we'll also get insight on the ecb's action. bob doneiamond is talking aboute tougher regulations. he will talk about the european central bank's latest ltro move as well. you're watching this edition of "closing bell" on cnbc. >>> welcome back. bob pisani down on the floor of the new york stock exchange. not far from the lows of the day, hewlett-packard and alcoa are the lag guards. but overall, we've had a pretty darn good month and pretty darn good year so far. the s&p up 8.6% so far this year. that's the best start since 1991. dow's doing pretty well, not as good as the s&p, up 6% year-to-date. the best start for the ye

abigail doolittle joins us now to look at oil. we were saying earlier, we're that close to $110, that probably is high. >> two short weeks ago crude was below the 50-day moving average. now 10% above. that signals an unsustainable move. crude's just going to keep climbing. maybe to $115 or so. more likely, though, support of that bottom channel, 50-day moving channel probably pulled crude quickly back down to $100. >> you've got a target price above? you're going to say -- >> i'd say 100. i'm looking more down side. i think $100 looks more likely. this move has been too far, too fast. >> what about the equities? how do you play it? >> that's one name i've been looking at, apache has come pretty far quickly as well. 20% up year-to-date. the last time it strayed above the 50-day moving average was back in 2009, quickly corrected back down. we could see a patchy, pretty quickly down close to $100 again. >> i got 30 seconds. show me copper. do you like copper here? >> i'm bearish on copper also. it's interesting, right now it's breaki

bring in katy stockton, chief market strategist and abigail doolittle. start with you first. long-term monthly charts point to a serious correction within the next 3 to 12 months. a serious correction. what are we talking here and why? >> we could really be talking about a 50% correction. >> 50%? >> yes. it's amazing. when we look at the long-term chart of the s&p 500, it's showing a failed double top. those peaks reflect an outrageous borrowing binge over the last 30 years. the failure reflects the liquidity efforts of the central banks starting in 2007 right through today. now, there is a shot that the s&p 500 could continue to be inflated up toward the old peaks of about 1550 for triple peak but more likely the s&p 500 appears to be in a relatively small topping pattern that could take it down into a long-term descending trend channel. >> define long-term, abigail? >> we're talking 20 years. 20 years monthly charts so really over the long-term. in terms of borrowing ban, really the cause of the financial collapse and probably the cause of what is like