Hi Dirwood, the levels you mention is exactly as mine. 4450 - 4438 is the big support for XJO. The expectation thereafter back into the March lows? This will mean that 4438 might be broken and then it is a long way down the two wave pattern plays out. The month needs to play out though as it is still early days. Watch panic selling also if 4500 broken.
XXJ has broken below the yearly 50% level and is below the monthly 50%. quarterly 50% is 5152, note monthly support is 5145.
XMJ is below the monthly and quarterly 50% levels with monthly support @ 10729. Still some way to go which supports the downside of XJO to 4450 especially as the XXJ has very little immediate support.
Of course I have no idea what I am doing so take my comments with a pinch of salt!
