Mchugh reckons the SNP could bounce off the uptrendig support...

Mchugh reckons the SNP could bounce off the uptrendig support line at 1040ish and the Dow at 9650.

Since the intraday charts are quite oversold I wouldnt be surprised.

HOwever, the thing that I learned in 2008 when I made a killing on the way down is that stoch or rsi doesn't work anymore on the big picture. In the end they are oscillators ...

So, I cautiously went short with all my positions in profit and if / when it breaks the strong support I will build up on my position otherwise I have my stop losses set at entry.