The Dow Industrial Index was down -0.88%. The bulls attempted an afternoon rally but it petered out in the last hour. The chart is now clearly below the 13-Day Moving Average, the first time since this rally began in early December, 2010.The S&P500 was down -0.61%. This broader market index performed a little better than the DJIA, but not a lot. The Russell 2000 was down a bearish -1.64%, and the Dow Transport Index was hit by a surging oil price, down -2.1%.
Europe was just as depressing. France -0.92%, London -1.22%, Germany -1.69%.
Gold in Oz Dollars rose +0.45% in the past 24 Hours. Good for the Gold ETF on the Ozzie market, but it has bearish tones for the general market.
There were signs of optimism in the Australian market yesterday. That carried over to the EWA (ETF for Australian Shares on the NY Stock Exchange). It was up +0.39% last night. The Ozzie Dollar was also up a little last night, +0.27%. So today, the Australian market may not do quite as badly as some might expect.
We shall see.
Good luck
Red
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