A down day with the Dow Jones down -31 points (0.19%) and the Nasdaq down -42 points (0.98%)
While the market rallied early on it spent the rest of the day closing the gap which it opened up in the morning. While the Dow held up relatively well, the Nasdaq lost 1% of it’s value, amplifying the divergence over the last couple of day. This not atypical when marketing topping formations develop themselves. Simply put, various markets and industries top out on different days, sometimes different months. Today’s move on iShares Nasdaq Biotechnology (IBB) and it’s break into a technical downtrend is a clear indication of that.
Does that mean the bear market has already started?
I have long maintained that the US Equity markets will go through a sever bear market between 2014-2017. Unfortunately, the information on exactly when this bear market will start (to the day) is available only to my subscribers. If you would be interested in gaining that information as well as the internal composition of the bear market over the next 3 years, please Click Here. Don’t forget, we have a 14 day free trial offer.
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