As forecasted by our technical analysis yesterday the market came down 599 points (2.21%).We are nearing the support level at 26 000 and we expect a bounce from there. But the newsflow about the global macro economic conditions doesn't look too good.
Unemployment claims from the US is out later this afternoon and tomorrow it's their GDP figures. All indications point to the news being negative, and we could just as well go below the 26 000 level.
If this crucial support level turns into a resistance level, we could see some panic selling around the world.
But the world is not coming to an end as we know it. (Only if you're long stocks)
Safe trading
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