DJIA - Support at ~ 8000

even with yesterday's plunge of some 428 points for the DJIA, the current index is still a little above Oct's low. Technically, DJIA has NOT yet made a newer low.
Thus, we are still within the range bound action...

BUT more crucially, I hold the opinion that the 7900-8000 region may be supported by that LONG term support line...

DJX - 20 Year Monthly Bar Chart



Most folks will close off whatever leftover options position by today and may start establishing new ones... and since this technical level of ~8000 has come to me...I may then decide to adopt those positions I mentioned before.

Good luck to one and all....