The Dow Jones 30, along with the SP 500, has posted its first monthly loss since October of 2016.
This has been the longest monthly winning streak since 1959.
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However, over the last two days, the DOW has lost over 700 points, or 3%.
And while these headlines will get the attention of investors, it’s the technical significance which should have investors concerned.
Both the DOW and SP 500 dipped below their respective 50-day moving averages, which opens up the probability of range extension to the downside.
As illustrated in the chart below, investors should be prepared to employ defensive strategies and take advantage of stock specific opportunities.
Dow Jones 30
