The Dow Jones Industrial Average plunged as much as 200 points on the open of trading this morning. It's worth noting that the 50 DMA has crossed the 200 DMA to the downside - a formation technicians call - the death cross - one of the worst bear signals in technical trading.
Watch out below.
*UPDATE* - On Wall Street - there was a big reversal. Big early losses were trimmed to almost none or in some cases, small gains. Big reversals *can* suggest a bottom of a range in the short term. Yes, nothing is certain, but this was a day the bulls erased the bears early crushing down draft and ended the session flat.
Watch out below.
*UPDATE* - On Wall Street - there was a big reversal. Big early losses were trimmed to almost none or in some cases, small gains. Big reversals *can* suggest a bottom of a range in the short term. Yes, nothing is certain, but this was a day the bulls erased the bears early crushing down draft and ended the session flat.