Search ForexCrunch

The Dow Jones Industrial Average (DJIA), lost around 200 points, or 0.8%, to settle at 26,627.48 on Thursday. At one stage the index had been as low as 357 points and down 1.3% at its lowest point making for the worst drop since July 11 and the biggest percentage drop since August 10th. Within the Dow, Verizon Communications was the best performer, adding 1.28%, while Nike led decliners, shedding 2.69%. The RSI analyses played out and bears look to a break of R1, (session lows and 4hr 100-D SMA confluence) and a test of R2 2631 having already burst through the 50% and 76.4%. However, on an upside extension, the 161.8% Fibo target is located at 27032.