DOW loses 200 points
The major indices followed the Asian and European markets lower today with the DOW leading the way down by losing 200 points and you would be hard pressed to find any sector that was a winner today.
This is not unexpected for those of us who has not bought into the economy recovery scenario that has dominated the news recently. While I do see signs that some individual sectors and companies may soon start benefiting from recent Obamanomics the overall market has yet to bottom.
Does today’s drop signal more downward pressure yet to come? I think without a doubt we can expect to test some previous lows on the DOW over the coming months. At some point in any market common sense comes into play and I think everyone realized that the economy situation simply did not warrant the rise in the DOW back to 8700 and investors can expect to see more volitality as we search for some level where there are more market buyers than sellers.
Visit our Investor Community for more insightful market discussions.
2oversold.com is a blog for the individual consumer and private investor. We are not experts in the markets nor do we make any recommendations of any company. The companies we blog about are discussed for the purposes of this blog only and this should not be considered as investment advice.
Comments are welcome on this 2oversold.com opinion. Registration is not required but you must have one (1) approved comment before your postings will show instantly.
If you mean expression ‘ volatility ‘ as lower prices for DOW I agree. It is going down.
Market shows developing steady weakness. I follow technical indicators and those
are pointing lower. Wilder’s DMI two days ago issued SELL signal, this is long term
indicator. S&P 500 Bullish Percent Index $BPSPX cross 60 MA, 60 day moving average, and this is reliable indicator during last 2 years, although SELL signal.
I truly expect we are still deep in deflationary era and we shall see sell off of all
asset classes. I do not know about $US and US Bonds. They also seem moving
in down direction. What we can expect, in enviroment of destroying our currency
by too much national debt ? USA GDP is $14T, official US government debt is $11T.
Do your math.