Panic: Second Quarter Panic Induces Heavy Selling Under 200 Day Moving Average
via John Murphy MAJOR STOCK INDEXES RETEST UNDERLYING SUPPORT LEVELS … Stocks started the second quarter under heavy selling pressure. Some major stock indexes saw losses in excess of 2%. Today’s selling is resulting in retests of important underlying support levels. Chart 1 shows the Dow Industrials touching its 200-day average but closing above it. At its low for … Read more