The DJ Eurostoxx50 like the DOW peaked @ 4315 half hour before the Close last night, and dropped to 4290 at the close. It then gapped down this morning to open @ 4260.

So I went short the DJ EuroStoxx50 @ 4257 at 7.15am this morning on a failed retest of the opening high of 4261, and it went on to hit 4217 at 9.00am.

Now using yesterdays Dow /EuroStoxx comparison values [a bit of maths ] I have the Eurostoxx50 @ 4222 to equate to the Dow valued at 12600. And as the charts were Over Sold, I closed my short position at 4219 for + 38 points. But I'm still bearish the Market today, and will be shorting Over Bought charts until the market proves me wrong.

The $64,000 question is......WILL THE DOW REJECT THE LOWER TREND LINE OF THE EARLY 2007 TRADING CHANNEL, IF IT DOES ...................................................

EDIT: when I quoted the Dow figure of 12600, I'm not implying the Dow will sell off to 12600 today, although it is possible that it could.

No, what I'm saying is when the pre US market open, kicks off in Europe, and if there is a reasonable suspicion that the US markets will struggle to rise on the day. They [the European] markets tend to sell off at the open to a point where their value represents a support level for the Dow. Then they are inclined to suck money back into the market over the rest of the morning. Is it a case of Accumulation or Distribution taking place......the worlds full of $64,000 questions......Least ways that's how I interpret early morning market movements this side of the pond. But in no way is this or any of my personal Market mussings to be taken as financial advice, do your own research