charting perspective

Hello All,

Being a learner to charting I was wondering what peoples thoughts are regarding todays actions from a charting perspective?

Questions I have are;

1) With the price falling sharply outside the lower bollinger band will it recover just as quickly as it drops when it rises above the bands?

2) There was mention of elliot waves being in effect with the currect wave being corrective - Is this still the case or have they been stopped?

3) Will the fundamentals overide the usual charting patterns in this case?

4) Are there any new patterns forming as a result?

Hope someone can help

Thanks....Maxi