Update on World market crash

Shanghai broke the 100 EMA support line while the Indian market also broke another important support. Looking at these two emerging country charts, it seems that further downside is to be expected in these markets as we head to next supports. In contrast, the US market is very close to support and should start bouncing back this week. If this is the case, money would start flowing back to US from many of these hot emerging markets of 2007. Also, European markets have been able to reverse some of the morning damage and would possibly close in green.
As I am writing this Dow futures are down 440 points and S&P 500 is down about 66 points. I will post the chart of S&P 500 (starting from 1985) later today to show why we would most likely bounce from this level. No action from Fed yet. This could be possibly due to TED spread.
Good Luck !!