Our Global Market Watch so far for just one day this week is highlight it as a possible Important High. At this point, a closing below 22850 will signal that a correction has begun for the near-term. Only a weekly closing now below 22415 will signal that we are looking at a more sustained decline short-term. The major resistance is still up at the 23,700 and no real breakout will unfold until we get through that level and support on it thereafter. Remember that this is driven by capital flows - not fundamentals that are purely domestic.