(CercleFinance.com) – The Dow Jones is testing a fragile support around 32.875, a level which corresponds to the bullish ‘gap’ that has remained gaping since August 9th.
The Dow Jones has just lost -1,200Pts in one week, a little less than 4%, but remains 4,000Pts above its low on June 17 (ie another +14% gain).
This makes for a ‘bear market rally’ of +18.5%, an unprecedented performance given the macro-economic and geopolitical context.
A relapse below 32.600 (ex-low of March 8) would validate the emergence of a new corrective phase.
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