The US inventory market is lastly reacting to the coronavirus scenario because it turns into extra acute.
The US inventory market is lastly reacting to the coronavirus scenario because it turns into extra acute. Up till the previous few days US indices remained suspended in report territory, however that’s altering now with long-term pattern help through the 200-day MAs coming beneath fireplace. The Dow Jones is already under the edge (27230 on money index), whereas the S&P is one other down-day away (3044 on money index).
For the Dow there’s additionally trend-line help from June to look at across the 200-day, we might even see a day this week outcome right into a risky turnabout as typically occasions occurs upon the primary check of main long-term help. Attempting to catch a bounce isn’t for the faint of coronary heart. Shorts, nonetheless, at this juncture do seem like at excessive danger of a pointy snapback.
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Dow Jones Day by day Chart (round important help)
Dow Jones Chart by TradingView
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