Down, down, and down we continue to go. Where we stop? Nobody knows.
Just looking at the chart of the Dow (INDU) is a horror movie in itself:
What is alarming is the overwhelming volume on the downward movement. Especially on the breaking of 8000. We officially moved out of that trading range.
Zooming out even further shows that we are close to another significant resistance point.
Will we break it. Probably…
More on this topic
(What's this?)
One Way Traffic: Dow Plunges Below 8000
(Jeflin's Investment Blog, 11/19/08)
DJIA Chart – Trading Channel or Not?
(My Trader's Journal, 5/13/12)
The Dow Reaches a Four-Year High
(Wall Street Daily, 5/2/12)