FSD, at the time Powayseller created this thread, we were discussing this issue in a different thread. In the other thread, powayseller (if I remember correctly) presented data showing that the stock market typically drops a certain percentage during a recession (per Roubini?). Since she was calling a recession to start very shortly, she applied that percentage drop to the current S&P numbers. Voila, a drop to 600. She then started this thread.
Of course, this is all from memory and I have not dug through the posts from that time to verify.

Powayseller, was this how it happened?

So, Powayseller may end up being right about the drop (percentage wise) but wrong about the onset of the drop. I think she has gotten too much flak for this post as people have either forgotten or never read the previous thread.