The Dow broke down below a 20 day symetrical triangle, although it closed very near the bottom of this trend line we could bounce since charting is not an exact science. If we are to bounce it should happen on Thursday. If the market closes down again, the next logical step is to test the lows made on October 10th. This exact number is 7,773.71. It may not happen in one day but I’m sure will will happen soon.

Until then I sugess you sit on the side lines before openining any new positions.

Lots of bargains in the market but they could get alittle cheaper in the next few days.