djia at support?, page-4

Sorry about the tiny chart, but I hope it gets my message across.

There's too much doom and gloom for me to be optimistic. This is how I see it, anyway.

Yellow Fib retracement - (from Oct 08 - April 09)we hit and bounced on the 62.8% & I believe we're heading for the 38.2% before a bounce (roughly 9540).

This matches up exactly with the....Pink Fib retracement - (from April 09 - last high in April 2010) - where the 38.2% lands from the opposite direction.

I've drawn a support line (orange) at the 1000 mark where it could bounce back up to, but thereafter, it will drop to the 50% on the pink Fib - which matches up with the blue resistance/support line I'd previously drawn:-(

The stochastic hasn't yet crossed - so perhaps another negative (or flat if she bounces) night tonight, followed by a little positive early in the week, before the next leg down.