Futures seem to be working on working off their oversold hourly MACD/RSI. So I'm thinking just maybe we might not see a gap down open as I'm sure everyone expects and which everyone probably expects would probably result in a bounce/recovery tonight.
Instead, perhaps futures will recover up until close so US mkt opens with little/no discount. This might give the bears a better chance of continuing the downward push than if it opened with a gap down as they'd start with the opening momentum - because they should have a reasonably high hourly MACD/RSI at the open.
Also, JPY/USD seems to have only completed half its move down from 114.75 towards I think 111 in the short term. That suggests to me further downside to come and IMO I think we'll see 111 when the dow drops to 13000 and SP500 1450 where we should see a bounce of sorts.
Just my thoughts.
thursday thrashing, page-137
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