dow warning .. dow warning ...

This morning the Dow closed at 7,465.95, only 18 points off its low for the session.

What is more significant is that the 21st. November Crash Panic Low was 7,392.27.

Should this level be breached:

"Watch out below. Timbeeerrrr."


PS:

Let's cut out the spin. So many are dreaming of a double bottom for the Dow as if it's a foregone conclusion. How about also being realistic?

The financial and economic news coming out of the US and elsewhere is putrid. So why should we get a double bottom at 7,392?

I want it too. But I'm realistic enough to believe the odds favour 7,392 being breached significantly on the downside, and then it's that cliched "Watch out below."