The DOW has dropped by slightly more than 1200 points, essentially erasing all those wonderful gains over the past 9 months. Most of that (95+%) was accomplished in the past ten or so days. I am using some of the novelties that are now available on StockCharts.com. First instead of the MACD I am using the POM, the price momentum oscillator, it is more reliable I have been told. Secondly there is now the option to add a thumbnail enlarged bit to the chart to explode the last little while. We are not done yet in my opinion. 14500 would make much more sense as a 4th of prev. degree to complete wave 1 down, but short term the thing is a little oversold as measured by the RSI. Perhaps it is time for a 4th wave of 1. We do not suggest trading the counter trend waves, they could be very short and fast.