7/30/2007 (1:35AM):

With a clear triple bottom reached in merely a week, the market should be able re-test the halves of the long red candlesticks. Otherwise (considering the market closed at the low of the end of day on Friday), if the support is broken, the next stop for the DOW should be at 13000 (a natural support) and the following level of support should be 12800 (a much stronger support because it used to be a previous high as well).

So far, there has not been any real panics but merely what traders call organized chaos.