The Dow Jones Industrials briefly traded below its 200-day and managed to bounce into the close. The index is in trouble as it has penetrated the 61.8 retracement level of the April 11 – July 17 move. The last line of support before a likely full blown correction is the 200-day, 25 Dow points below today’s close. Note also, the S&P500 closed below its 100-day moving average for the first since April. Stay tuned.
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