All markets suffered heavy losses last week. INDU broke its support at 10350 and the new support is above 10000. QQQQ broke the support, we shall see if it continues to decline. SPX is approaching the new support level. All markets are very over sold, but not so good economic data didn’t provide any incentive for buyers to step in. However, my personal view is that the market condition is not too bad, thus there may be a buying opportunity for long term accounts.