All in a day's work

Everyone should know by now, everything is dropping. Ok This is crap. But the point here, I am thinking of driving is how much lower can we get.

I've drawn 3 red lines, projection lines, to illustrate the support of the current DJ. It just broke a support, not very important one though, but significant.

Obviously 12,700 has been the support for the last 2 corrections in the year 2007 and since we've breached that, get ready for a sprial ride, down. Anymore lower, it would be testing the 12,000 point soon. An important point, psychologically and technically, as seen from the bottom most line.

Another point to note is that the selling trend is still very strong, from the very protruding red sticks at the bottom and we are facing the support of the 3rd line, created since 2005 and also the support for Feb 07 at, coincidentally again, the region of 12,000.

So stop hoping for a rebound and accept the fact that we are going down, maybe you'll feel better. Start saving up for the bigger picture!