![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLPxC3z9c4wX-e1cCs79qNNdcUTzlq7tC1uTpOjy34IeGC0zr1a8ACYQhuzxWyJBd2a_y_ntqMA_juozcMmKEGpLmIVBkE3D5Mvzu5IVAtxBqRPDhyphenhyphenCwgtTFYgXuPr19oupPXuhQ/s320/djia.jpg)
We were expecting the STI to head down to 2200 and for the DJIA to head down towards 9500-9600, regardless of whether the Paulson bailout plan went through. The overnight 778 point is NOT a crash. We still expect further downside to the DJIA towards the 9500-9600. We attach an earlier wave count on the DJIA, which explains the basis.
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