Note the key levels on all the charts (accross asset classes) below.
Our game plan is as follows: Should we close well below all these support levels we would then expect a relief bounce that we would short. If we bounce today and don't close below those support zones we will have to measure the strength of the bounce and consider adding a little long exposure via teh SPY for bucket 2.
The German Dax:
The other side of those support levels above of course is resistance on the dollar index chart: