Off the Charts

The market declined for the fourth straight session. Today, the Dow led the decline with a 0.95% loss, while the S&P 500 fell 0.62%.  

This morning it made sense to test some longs as we entered oversold territory, but the market was too heavy and could not sustain a bounce. After the first hour of the day, sellers stepped in and pushed the market lower. The S&P is trading below the break of the accelerated uptrend that started on June 4, and it's now coming in to test the 50-day moving average at 1425. It will be important to see how the market handles this level....752 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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