monday madness, page-44

Yes the asx200 will fall monday by about 30 points, before rebounding..the materials index will drop 170 points in the first hour before rebounding...we are very close to the support level of a massive broadening formation.....VERY BEARISH, but in saying that i dont think it will crack just yet might need to retest 6200 before cracking the support level which will equate to a 300 to 400 point drop..

But what has me confused is besides from nickel, copper,zinc,lead and oil are at very high levels, meaning i cant see the mining sector falling much further without thinking there oversold at current levels. But in saying that, markets usually tend to overshoot when there is mass exodus.

To conclude, the feb correction was a 400 point drop, usually correction that follow are much bigger so it would`nt suprise me to see a further 300 points come off the market.