The Dow Jones (DJI) Leads Wall Street Lower

All large cap indices on Wall Street have printed bearish reversal candles at record highs this week. Yet it was the Dow Jones which took the lead lower yesterday, and bears may not be done just yet.

Stocks (2)

In today’s video we look at the Dow Jones, Nasdaq and S&P 500 charts. With earnings season in full swing and, on aggregate, faring better than expected, we are not looking for any significant moves lower. But sentiment for equities has taken the shine off-of earnings, so we have a bearish bias going into today’s session and will revise as each day passes. Ultimately, we prefer to remain nimble under such circumstances, especially when the bias is against the dominant trend.

 

 

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