Finally at the 200-day Moving Average, Again
After dropping off a cliff the Dow has moved sideways for the past five months. Today it closed below the 200-day Moving Average for the first time in 501 days. A phenomenal run to be sure. But what now? The stock market always does what it is supposed to do but rarely when it is supposed to do it. So it goes with the current correction in the Dow Jones Industrial Average . Although the S&P 500 tested its 200-day moving average over two months ago, only today has the Dow closed below the average for the first time since June 27, 2016 - the third longest bullish streak above the average ever. The strength of this market has been breaking down since early February and I blogged about it at the time . Since then I have been watching the Dow on a daily basis. Among the many things that could be noted about the recent market activity is the fact that the Dow formed a symmetrical triangle throughout February and most of March. Out of that formation the Dow broke do