The long uptrend is very well in place and the 8 MA should give support on a drop
After the big drop a 5 wave correction up trend has been done without reaching the small R points top before the uptrend. It is possible that the downside pressure will get stronger soon.
DOW is seeking support above S line.. Lots of US news at 14:30 and at 15:45 that can move the markets.
Look again at this picture and ask yourself what had happened if you had no stops. Most certainly a smaller loss then with a "safe" stop. I have not used stops since 1987 because I lost to much. You should know the direction of the trend and how it will move so you never need a stop. Otherwise you should not trade. The biggest money to earn is to find a long term top or bottom and stay in for a year or more. That goes for currencies and gold as well. Do never "take home" the profit because the big difficulty is to find the buying or selling point again and again. It happens that I can wait for more than 2 years to find the exact point for my position.
Here is another important piece of remembrance. When it has become clear that the cross is real then the professionals send the market as high as they can above the falling MA:s and sell the top to get short positions. Always wait for that run to take your own short positions. In this chart it is the bar second from the left.
Monday at 22:00 the DOW closed at 13.886. Tuesday Europe got a low at 14:00 at 13.857 - that is below the close in the US. Sideways for a while and then the 8 MA turns up and later crosses the 21 MA on upside (upside cross) starting a strong rally until 30 min before US closed at 13.968. Very very often this happens when the trend is below yesterdays close in the U.S. at opening. A US short covering starts which can be powerful as yesterday. In these situations be very careful, that is my message.