Looking at this chart, I wouldn’t be surprised to see a sudden and fast drop down to 6800 – 7000 level.
I’m acutally long with clients. But just looking at the chart and thinking of the momentum and positioning, that might be a real possibility.
That would be a great buying opportunity considering 1) high dividend yields, 2) low interest rates, 3) support of low oil price for world economy.
This chart I saw on marketwatch.com would also point to room to the downside: