spooky figures

The DOW is down 4% in 2010.

During the last session, DJIA fell 2.61%;
NASDAQ fell 2.99%;
S&P 500 fell 3.11%

CNBC reported a "brutal selloff".

The PSEi has a tendency to track the american market so we're likely to see another correction. What has my attention is the 10,000 point psychological mark in the DJIA. For a few moments before trading ended it fell below that level but quickly jumped back up to settle at 10,002.18 points.

If the DJIA doesn't hold above the psychological 10,000 point mark, I think there's a good chance it will spark a large correction in the three major indexes.

A large correction in the U.S. will probably spook the Philippine market into a sizable correction as well. After all, we've seen a rally that lasted around nine months already. As the saying goes what comes up, must go down.