I am not an financial advisor and this is not financial advice. We seem to have found support here on the 200 Daily Moving average (not pictured) at 8800. I'm showing the weekly chart in regard to bull cycles. Retraces to this extent are fairly common, leading me to believe this could be the usual "buy the blood" opportunity. On the other hand, if we close a weekly below 8500, we can probably expect extended downside, and possibly even a collapse of civilization, as we know it. If you found this useful and/or entertaining please support me by leaving a like =)