For what it's worth, that gap down of a few days ago broke a 4 year trend line. I don't pay much attention to the fancy stuff like fib numbers or eliot waves, but a broken trendline, especially a long one, gets my attention. IMO, we could see the low 300's before this is over, although I wouldn't be short here since a sharp rally back to trend (new resistance) is likely. Anything can happen of course, but I want the odds heavily in my favor before I commit, and I just don't see it right now.

ebear