| Weekly Trend: | Down | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Down |
Today felt like a real wash out day with heavy volume selling across stocks and the currency. The AUD was ripped apart. Our Type-A bullish divergence that we’ve also been watching has also failed to materialize. The market closed hard down on heavy volume. We’re now 14% from the recent highs and now closed firmly below major support of 4500. We’re certainly on our way to our longer term targets circa 4000. Ideally I don’t want to see this leg travel that distance, but it does seem the world markets are teetering on some panic.
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