The Dow Jones plunges over a broad-based rise in risk aversion. The liquidation continued after the price action failed to hold above 32600. Sentiment remains overwhelmingly downbeat. A fall below the major support at 30700 may officially make the recent rally a dead cat bounce and send the index into bearish territory. The psychological level of 30000 would be the next support. An oversold RSI may trigger a temporary bounce but the bears could be expected to sell into strength near 31700.
