UPDATE

The twin w of tse and hsi bottom formation did not materialize, instead hsi formed a double top around 15300 neckline 13200, it will likely hit 11100.

After the state of flux in oct, a lot of the over extended funds have liquidated their positions, the final third leg may take much longer to wind down - likely 6-9 months since the second leg took only three plus months to fall from 23000 to 10600.

gm is the lever that may trigger the next wave of selling [if it files for chapter 11] or any sharp rise of the market once a bailout plan is in shape even it might not have been announced to the public

commodity based currencies such as aud [0.626], nzd [0.543] and cad [1.26] are near their near term lows which indicates a deeper recession, thus dj has the possibiltiy to fall to 6000 depending on how things and data pan out.