Bears knew no boundaries as they pounded heavily against the Bulls over the week.  Initial and secondary supports were broken with no hesitation.  Bulls were all dumbfounded, their jaw dropped to the ground, as they failed to act against the Bears.

Our forecast for the bearish rising-wedge formation is taking shape with the way things are going. This will be a very quick move to the expected target.  It may just be a matter of 2-3 weeks time.

Investors quickly moved in to buy after DJIA hit below 11,000 level last Friday, forcing short sellers to join in.  There's no reason for us to call an end to the 300 point drop last Thursday. It is possible that a couple of day's rally could be in place but 11,300 to 11,500 is the best that the Bulls can do after which the Bears may strike again. 

DJIA is now on a short-term down trend.  Major support is at 10,732.

Tandem-trending S&P 500, moved the same as DJIA as it also broke support levels 1,261 & 1,234.  A rally to 1,260 to 1,290 is the best that it can do, then it may be a perfect time to join the bearish ride.

S&P 500 is now on a short-term down trend.  Major support is at 1,200.

NASDAQ made a sudden twist to join the rest of the indexes.  Surprisingly, from being a recent top-notch index to make a short-term up trend, it is now the worst with a gap down move last Thursday.

With a gap in place, NASDAQ may make a quick rally to try to close the gap at about 2,317-2,350 but the bearish mood can only take it to about 2,300.

NASDAQ is on a short-term down trend.  Major support is at 2,167.