DOWn Over 300 Points!!

The Dow plummetted 311.5 points in a single day today! The last time we had such a huge, deep impact was back at the Shanghai market plunge of 27 Feb when the Dow dropped over 400 points. This plunge was accompanied by a huge volume surge, which could probably signal a selling climax. What's obvious now is that this plunge certainly took the Dow back down nearer to the weekly 30MA, which we have been watching this whole month, just as the Shanghai market plunge did. I do not see a full scale bear trend coming up and I maintain my view that the Dow would trade within the sideways channel that I mentioned yesterday.


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