smashing friday, page-21

2 points to note from the daily:

1. The intraday high of yesterday again failed to get up to the prior swing low by about the same number of points as what happened at the previous swing high.

2. We've left another one day counter trend behind with today's drop.

These facts suggests that the current downtrend off the 7 Jan high is still in a strong position.

XAO 3341.75 is 1/4 support of the range from the 21 Nov low to the 7 Jan high and may be support for the day by the looks of how things stand right now.