Dow down over 20% from the high. Enters bear market territory.
The Dow industrial average is trading down -624.73 points -2.08% at 29449.59. The low price reached 29439.48. The move to the downside has now taken the price 20% from its high reached on January 3. The Dow industrial average has entered into bear market territory.
Also, the price has moved below the 38.2% retracement of the move up from the 2020 low at 29794.35, and moved below its 200 week moving average currently at 29751.44.
In comparison for 2022, the …