The 2744 low has been breached, which points to the ominous continuation of the bearish move downwards. It occured quicker than i expected, but the high volume is genuine. The selling is extremely strong for a good reason- everyone expects the index to move lower.

I do not advocate buying yet, although the market is oversold. Staying on the short side is the way to go, until a basing pattern emerges and selling dries up. Gold should be making fresh new highs again, as the global equities trudge through this turbulent phase. 1900 should be in the cards.


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