The Dow tumbled over 800 points. Yesterday, the index fell over 1000 points. And for the 2nd day in a row, the losses have been erased.The Dow currently trades up about 50 points or 0.16% at 34417. The high price reached 34431.56.
Looking at the daily chart, the down did reach down -10.25% from the early January all-time high. That low reached into a swing area between 32980 to 33271. The low yesterday reached 33150.
On the topside, the 200 day MA is at 34968. If the pair is to go higher, getting and staying back above that level is key.
Looking at the other major indices, the:
- S&P index is down 22.08 points or -0.50% at 4388
- NASDAQ index is down 153 points or -1.11% at 13700
- Russell 2000 is down 15.89 points or -0.78% at 2017.59
This article was originally published by Forexlive.com. Read the original article here.