The DOW is flirting with it’s 50-Day MA @ ~8,940. It would be a positive event if it were able to close above this trend resistance and rally strongly into the close today.
After being up nearly 350 points earlier in the day and then methodically moving lower until just about 30 minutes ago, we thought we may continue selling off into the close.
The reversal that began over these last 30 minutes has seen a significant improvement in UP volume but the last hour has been, generally, the weakest part of the day during this sustained downtrend.
Let’s hope for a confirmation move upward into the close and a close above the DOW‘s 50-Day MA, which would be another step forward in this recent reversal since the 11/20 & 21 lows were put in.
Coach BD
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