As long as the Nasdaq holds the 200-day MA and its two-year uptrend line, the past 9 days of carnage will only be considered a market correction. However, if the Nasdaq, DJIA and S&P 500 all lose support of their 200-day moving averages, the market will likely undergo a severe trend reversal.
The stock market indices started out the week with a flat day. An afternoon sell-off brought them back down from mid-afternoon gains in a session that was choppy.
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