After a furious attempt to re-gain all that was lost in the crash in just a few sessions, the Dow Jones Industrial Average is once again in the red, down two percent in mid-morning trading. Is this sell-off for real and what started this selling?
News out of China over-night is what spooked the market - with the Chinese government reporting that manufacturing data was weak - the weakest since early '09. This provided those looking to take profits in this market to pick up their ball and go home.
The key is to watch for a test of recent lows. Can those lows hold? 16000 becomes a very important line in the sand.
News out of China over-night is what spooked the market - with the Chinese government reporting that manufacturing data was weak - the weakest since early '09. This provided those looking to take profits in this market to pick up their ball and go home.
The key is to watch for a test of recent lows. Can those lows hold? 16000 becomes a very important line in the sand.