What Was Most Relevant about the Dow Being Down Yesterday
We've seen down Dow days scattered and splattered here and there over the last few weeks. Mostly they've been down days mixed with up days mixed with down, then up, etc. Yesterday's down day, though may be a bit more relevant that those spotty downdrafts we've seen.
The percentage - almost 1 % - wasn't outrageous, although it was stiff. But what may turn out to be an indicator of things to come was the fact that yesterday's losses accelerated towards the close. Oppose this to those days where the Dow plunges early, then creeps up during the day, ending down, but farther up than the day's open. On such days, buyers are poking around and picking up what they consider bargains. Yesterday, however, the bottom fishers stayed home. So stocks simply sank as the late day wore on.
Something to keep an eye on.
The percentage - almost 1 % - wasn't outrageous, although it was stiff. But what may turn out to be an indicator of things to come was the fact that yesterday's losses accelerated towards the close. Oppose this to those days where the Dow plunges early, then creeps up during the day, ending down, but farther up than the day's open. On such days, buyers are poking around and picking up what they consider bargains. Yesterday, however, the bottom fishers stayed home. So stocks simply sank as the late day wore on.
Something to keep an eye on.
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