Joe Friday: "Despite the 350-Point Dow Decline,
Support Remains in Place"
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The Dow declined 353 points yesterday, wiping out six weeks worth of gains. The decline has become a major focus of the media. Did the decline break support levels from where the rally started in the fall of 2012?
Joe Friday: "Despite the large decline yesterday and the softness over the past month, support from last falls lows is still in place."
For the market to be in trouble, support first has to go, and ... so far ... it has not.
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