monday monday, page-44

10th March 11,731 the low of the day on DOW. Currently @ 11,770 fut. The charts point down, but the momentum/RSI hasn't reached the lows of the 11,731 yet. I doubt we will reach it in the next few hrs, but maybe later today or through the DOW session. Then again sentiment could change this afternoon, and this may push through. I can't call it yet, but if we go through this level, I can see the ASX falling below 5000. Might not be much action for a few hrs.

So what have the FED got left, will they admit this week that they are now in a recession? 100bp on top of todays 25bp is on the cards, but it will make little difference. I'll be interested to see what happens after Easter, there will be much news to digest this week, but most of it will be trying to answer the question, 'can it get any worse?'