The Dow falls back below its 200-day moving average after brief bounce above it
The Dow Jones Industrial Average tumbled 870 points, or 3.1%, in afternoon trading Tuesday, enough to take the index below its 200-day moving average in intraday trading for the first time in nearly 5 months. The 200-DMA, which many chart watchers view as a dividing line between longer-term uptrends and downtrends, currently extends to 27,231.06, according to FactSet. The last intraday dip below the 200-DMA was Oct. 3, 2019, while the last time the Dow closed below the line was Aug. 15, 2019 when it closed below it for 2 straight days. The Dow initially fell as much as 929.92 points Tuesday to an intraday low of 27,030.88, then bounced back above the line to an interim peak of about 27,300 before resuming the selloff. Meanwhile, the S&P 500's intraday low of 3,123.00 was well above its 200-DMA of 3,044.69, while the Nasdaq Composite's low of 8,950.50 was even further above its 200-DMA at 8,378.44.
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