The expected severe correction has entered the volatile part now with wave 3 opening with a huge gap today creating the most volatile moves. The rise from Aug was around 2800 points and a 38% correction brings us to the minimum target of wave 3 around 11400 and wave 5 should finally reach the 200 day MA around 11000 but that is rather not likely this week except for a full scale crash which is still possible but I rather think that might rather happen with the next big leg down as for now some ‘smart buyers of weakness’ will be around to catch the falling knife. As the sentiment remains bullish overall but Hedge Funds will be in severe selling mode as margin calls will bring a broad sell off even in Gold while they have again leveraged up on all bets. For now around 11400 even today we can expect some buying coming in as PPT will be very busy but central banks have no bullets left after their ponzi bull campaign and real sellers will give them plenty to digest as Japan is spinning out of control it will have a serious impact on the global economy. My heart is with the people in Japan who are trapped in a really bad situation which will ring many disaster Hollywood movies close to reality. Unfortunatly all around the world governments are full off corrupt and incompetent creatures who can not deal with hard situations which will make things worse. We can not rely on any official informations which at some point can bring markets toa dangerous edge.