Dow Breaks Below 15,000: Will It Come Back Now?
Since we've been talking about it, the Dow did finally do something of significance: it broke below 15,000. Since we first posted about the Dow and its recent falling price, this is really the first time anything important has happened. Even after five straight days of falling price, we noted that such a fall might not presage a crash or even a serious decline.
But when an index breaks above or below what we might call a "major" landmark, in this case 15,000, it's worth taking note. It may not wind up meaning much of anything if the Dow turns around and continues its upward march, so we'll be watching for that - a quick turnaround - now. After its fall through 15,000 yesterday, today we find a positive day (so far, at 1:15 PM), but that's not all that surprising after a 100+ point drop. What we want to see if whether the Dow climbs above 15,000 within the next week and then stays there a while.
But when an index breaks above or below what we might call a "major" landmark, in this case 15,000, it's worth taking note. It may not wind up meaning much of anything if the Dow turns around and continues its upward march, so we'll be watching for that - a quick turnaround - now. After its fall through 15,000 yesterday, today we find a positive day (so far, at 1:15 PM), but that's not all that surprising after a 100+ point drop. What we want to see if whether the Dow climbs above 15,000 within the next week and then stays there a while.
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