I have to admit a nuance : Yesterday I had my downward target in FDAX at 7256.00...BUT, I did not want to consider it as a target, because it seemed too far away from market action...especially in observance of Volatility Index...but taking a look at Vola in 1998, it reminds someone that markets can behave even worse. Take a look ( I took some data from CBOE - they have really better figures then EUREX )=> Therefore, I have to be prepared that it might get even more challenging to accept the right levels of swings.... Source : http://www.cboe.com/micro/vix/images/vix_sp500.gif
In other words : "Dip buying has been consistently rewarded lately and it doesn't much matter what caused the dip."