The first chart is CMC hourly 24 hr and looks like 5 waves from...

The first chart is CMC hourly 24 hr and looks like 5 waves from Nov 5 and if so then a bounce would be expected.

The second is weekly and shows a nice fit to Fib grid at .5 down and rally back to .236. Is was on that basis that I had my projection but no guarantees.

Still looks like major corrective wave C needs another leg down after a rally.

SOme are arguing that with support broken we need to look for new support levels.

Perhaps, but as McLaren points out, old support is so obvious these days that the smart players break them to panic the novices.

It seems to me that Laundry has been the best web guru to follow.

Are we pre determining tonight's action again. US futures have only just begun to move. Strange that, as you would thing one would track the other.