testing fib 61.8 retracement at 6000 ...

Hmmm ... hope everyone is HEDGING their portfolio's.

The XJO is now down -12.4% from the 6850 high near to the 14.8% drop in August07 and 5.0% so far in 2008.

XJO now testing Fib(61.8%) retracement level at psychological 6000 ... those loaded SHORT might want to park some green ... a bounce is possible here. Failure here would see next test at 5500.

Price has disconnected from DOW for two successive sessions as has the FTSE ... Fed Benanke's strong statement that he would do whatever it takes to keep US out of recession, hinting at a 0.5% rate cut later this month boosted DOW overnight.




Cheers ... tight stops.


This is only my view ... read the black stuff.