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Dow plunged 248 points and ended rally once again

The [tag]stock market[/tag] opened down, continued its downturn all day and counted its sixth [tag]loss[/tag] in a row. Bad [tag]economic data[/tag] slashed the [tag]rally attempt[/tag] to dust. Are we heading below 8000 points?

[tag]Dow[/tag]
-248.42 -2.94% 8,200.14
[tag]Nasdaq[/tag]
-56.82 -3.67% 1,489.64
[tag]S&P[/tag]
-29.17 -3.35% 842.62

The last [tag]rally[/tag] was mostly led by weak [tag]stocks[/tag] on low [tag]volume[/tag]. Leaders were lacking to [tag]breakout[/tag] from their bases and if it happened those breakouts failed anyway.

[tag]Dow Jones[/tag]

Tip: Bad economic data are sinking the market. We are in [tag]correction[/tag] again and it is not time for [tag]investing[/tag]. The best approach in the market like this one is to stay aside, open no new positions and wait in [tag]cash[/tag] until the market confirm itself in a [tag]new rally[/tag].

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