dow looks terrible, page-58

The DOW looks shot this is systematic distribution. There was nil capitulation, just a steady fight through the day with bears winning every battle. And you can buy a double bottom, but not a triple bottom. If 11600 goes you are looking at 10500 minimum. Everyone is missing the big picture other than Vietnam, the Chinese index is off the greatest percentage (>50%). Doesn't this seem odd with GDP 8-10%. Remember the stockmarket discounts the future. My take is that the US is shot short and long term, but that China is about to come off the boil. This will be disaster for the ASX. Seems everyone is too busy looking at the US to see the woods for the trees.