DOW opens sharply lower today and after initial recovery attempt, selling intensifies again. At the time of writing it’s down -500 pts, or -1.98% at 24817. Technically, the break of 24899.77 support confirms resumption of whole decline from 26951.81 high. Next target will be 61.8% projection of 26951.81 to 24899.77 from 25817.68 at 24549.51.
In the longer term picture, fall from 26951.81 is seen as corrective whole up trend fro 15450.56 (2016 low). Such correction would extend to 38.2% retracement of 15450.56 to 26951.81 at 22558.33 before completion.
