Has Wave C begun?

Another bad day for the US markets and Asia following suit with the Nikkei down abt 290 points(at one time abt 350 points). Continuing the same trend we should see India following suit. Let's look at some of the charts below for what to expect:

DJI:
The trendline that has served us so well has been broken decisively today. However as we can see from the charts, 13200(give a leeway of abt 50-75 points) offers support. If this is broken, then we can assumed Wave C has begun and short/close positions on the pullback that will follow.



Sensex:
We can expect a bad day today following the Asian markets. Yesterday, it reacted from the trendline and was down abt 75 points. However, as marked on the charts, the Gap up at 13800(leeway of abt 100 points) looks like it will provide support. We will see the action and make our decisions accordingly. The key points to remember during such times are:

1. Don't panic and lose your mind.
2. Be unemotional and if the supports that we track break, then get ready to sell on the pullback. This will provide us with the valuable cash and emotional stability required to profit from the next upswing.
3. Take each day as it comes. Don't expect action too far away. Observe and act.