Market's comments on the market

Dow down 358 and closed on its low - If you look at the technical picture the market has broken the long term uptrend. It’s a technical observation not a prediction. The media is awash with excuses: Tsipras resigning sending Greece into a September 20 election. Talk that the PBoC (Peoples Bank of China) will downgrade official growth forecasts to 6.5%. The FOMC looking like it will delay a rate rise - suggests it is concerned about a lack of growth and the stubborn lack of inflation. Technical selling as the S&P 500 dropped below the 200 day moving average. To read more click here - (VIEW LINK)