tipping a bounce on the dow, page-16

re: bloodbath a little way out yet, but not looking good.

as mentioned earlier though, the futures are not necessarily a great indicator. the were up in pre-trade one session last week and the market actually went down sharply. conversely there was a night 2 weeks ago they were down about this much in pre-trade, only see the dow rise about 30 points overnight.

on a purely technical basis I cannot see the dow going down so far tonight, the rest of the markets 'followed' the dow from last night, and added more down side in the 'expectation' of a down night. The ASX soared at the end of trade on Friday on the expectation of a higher dow over the weekend, it did not happen so today it plunged.

i honestly do not think that the surrounding markets are affecting the dow. I think the DOW is affecting all other markets, and now we're seeing 'expectations' of the DOW affecting the market before the DOW has moved.

if the DOW is flat or +/- 30-40 points tonight ... the ASX will soar tomorrow and the other world markets will be positive.

check out the yearly chart for the DOW, we're not in crash mode guys, were in correction mode. if it were really crash mode, the DOW would be 10,000 or below already. its come down about 6-7% from its high. so we're nearly there, but a little bit more downside to go yet.