Market Commentary: DOW Off 300 Points, 50 DMA's Crossed And Supports Broken

Market Commentary: DOW Off 300 Points, 50 DMA's Crossed And Supports Broken



This is another article on the big down day on July 31, 2014.  Besides being the last day of the month, we had several bearish factors pushing down the market.  Gary included the numbers from a number of important stock market indicators like $NYMO being -52, and we have not seen this much negativity in a long time.  The main question is that we don't know how far the market will fall.  I sold SPXL today because the S&P 500 has been struggling too much lately even before the fall.  We have to take profits at some point or take steps to prevent losses and move on to other opportunities.