4000

Australian 200 index is to open at around 4040 today. A few percent below the levels reached in the recent rally.

Yesterday, in an online briefing about the market, there was an opinion that the recent low need to be tested and confirmed for the graph to move sideways and/or upwards. Or, it also could continue downwards. I guess it was not expected this fast. So it seems the movement could continue lower despite all the efforts from the financial authorities worldwide.

I think the fear is becoming overwhelming. Almost everyone now talks about the crisis, recession, banks, etc. Ordinary people who watch the news just now start to pull their deposits out of the banks, or sell their investments. That pretty much paints a picture for the general emotional bottom of  the market. What happens with the indexes? That’s another story. :)