DJIA Afternoon Update 12-4-2018
DJIA at the time this is being written is down more than 460 points at 25,357.46. As stated in our morning update:
Given the past few days movement higher, and considering the part of the cycle the market is in, it would not be too surprising if the DJIA backed down a little today.At this point keep an eye on the close to see whether or not the Dow will finish above 25,344 or not. A close below 25,344 would indicate that the DJIA may be weakening and may not have the momentum to enter the top end of its range - the 9th level which ranges from 26,624 to 28,672.
It looks as if the temporary halt of the trade war between the U.S. and China was good for part of a trading day's worth of momentum. In reality, the idea of a single root cause behind any daily gain or loss in the markets is simply a way for the talking heads on Television to get you to tune in.
Stay tuned for the evening DJIA update after the markets
close.