The DOW dropped 500 points in one night. This creates the kind of momentum that is extremely hard to stop (panic, margin calls, triggered stop losses etc)
It then bounced back with monster volatility to a paultry (in comparison) +60.
Major support levels on most major indicies have been broken with a vengence.
Since the DOW closed on Friday we've had even more bad news with the downgrade.
The longterm outlook for Europe and the U.S. is terrible with fear of global recession.
With all of the above, I just can't fathom how our market could possibly end up in the green tomorrow. I'm predicting a blood bath with a blood bath in the DOW to follow tomorrow night. The fact that investors on the ASX will be stepping aside and not buying (to see what the DOW does tomorrow night) will be enough on its own to tank our market.
