The headline on Yahoo Finance at this moment.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3QIJn_RHxPdxF8mcyJCDe0o1bI2eHKE3wOTq0pvyuBPzT4bbOBeNPzTNAlriiLO19vZXa2pbSJiVQoKHaVCoHEmSd0gXI_zQ8XUr_GcBwb3ib_LHL4mJIM3iC1lQ0aJKxikyhXfnccPo/s400/Nasdaq+1.jpg)
Dow, Nasdaq and S&P have dropped more than 1% as shown below. Nasdaq has dropped to about 2750 after one hour of trading.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmMIqgPlbylqYdQSU1r-CVBbrvBkZNICA0nEU2F9zlpPd847krpKtZRa-1dDV-Ts2fMEwMu1UwQ023IJr-l9rln9U4i4DJLIu1XLHE8eitmX7iN25jubyDvnI1Rr0jBim9hdd3lMk-VWU/s400/US.jpg)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMlI-Z1j_tC5mkZHFea4sfHVR80OeqzHCtyV3omKRY8ubt6EO1fyNBA4u9uDItpVcWLMrtCa5Q4wS64PqbdvmrBVzY29rwDugbU_pTdqrK67D2PlvDscw5HQaRYOaEN3bhGpgfzwxOg5Q/s400/Asian.jpg)
British FTSE, German DAX and the French CAC40 as shown below have lost between 1.5% and 1.9% at this moment, one hour before closing.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0ku-OIHZ_Yz1ewJxiifD1cljeDCozap7r9lJ0IPUoRdn2-cJsGf8JlR_IdmV-87RDkG6_qY62_riGHmmPK8EJJ0NGI3DD9McxNp3jCr-fzpojgwicdhVIgDHhR408v4B8_8ViBRyaOnA/s400/Europe.jpg)
As I have mentioned in my earlier posts, it is possible that the run since March 2009's low has ended. The short term mini waves have confirm the downtrend following by having a low lower than the previous low and high lower than the previous high.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBepYGBKHsE5NWsWh1TYEjHcgrjNRcRTKFTgEBsovHEcRiHEb94K0RiLXaoFZxDpXVUZ6PNGQCeyBpH_5wGK5NflwxhyphenhyphenERF_bNA3MmUSz9Rjlpbyeh6fVgo9bGD2sqSdoNTiD2L3GposM/s400/6M052111.jpg)
Next I will be looking at sub-waves setting descending new lows and descending new highs.
Courtesy of Yahoo Finance for all the images.
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