If 1600 looks tempting, how about 1300, for thats where it is at the time of this post. The big question now is how low can it get before a reversal.
I agree that TA means little in these difficult times, but for the patient ones, profits will abound in time. Yes this poses another question, how much time. Well, your guess is as good as anybody elses, but I think we have to wait for the markets worldwide to stabalise and then hopefully see that long awaited upturn.
Take care its a dangerous place out there.