20070622 Quoted from Yahoo Finance, "The Dow fell 185.58, or 1.37 percent, to 13,360.26. On Thursday, stocks had fluctuated before ending higher, with the Dow recovering 56 points following a 146-point tumble on Wednesday."

How best to trade this? Larry Pasavento postulates the AB=CD formation, which looks like the lightning bolt, to project possible buy point. Taking 1.618 of 146 point (Thursday decline) gives 236.23. Project down from Friday close gives a support level of 13309.6, about 50 points from Friday close.

E-mini S&P 500 chart