DJIA breaks first support level.

In this post I modeled a breakdown below the top support line of this 5 wave ending formation.  Today that played out.  If this is a 3rd wave down then it will probably sink another 100 points, perhaps a good deal more before getting any relief.

Bottom line, this thing is flashing a major sell signal.  If it cannot eventually (might take a few weeks to get there) hold the lower green support line (and it likely won't) then expect much lower prices very soon.  These markets have no real value.  They are fed pumped big time.  At some point the fed will try to save itself by pulling stimulus.  Then the real pain will hit and all the sheeple will go crying to Congress to "do something".  But what can Congress do but to take control from the fed and then start throwing money around recklessly to all of its friends.

The day Congress gets control of our money supply away from the fed is the day I go on hyperinflation watch.  Not that hyperinflation will come that very day, only that it is sure to come once that flood gate is opened.