U.S. markets cut in half; knocked back to 1997 levels
Although U.S. equities have now marked an ignominous milestone -- the Dow industrials have been cut in half from their October 2007 high -- the technicals aren’t signaling, just yet, a tradable low for investors. The volatility indicator suggests investor complacency hasn't run its course, and any breaks toward resistance levels are likely to draw sellers into the market. All told, a more decisive break under the market's 2002 lows looks increasingly likely.
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