Dow working toward bear market territory

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Relatively speaking, the Dow industrial average at -19.5% is fairing pretty well in comparison to the S&P (-24.5%) and certainly the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index (-34.8%). The move lower today has taken the price back below the 30,000 level for the 1st time since the June 25, 2021 trading week. The price is also dipping below the 38.2% retracement of the move up from the March 2020 pandemic low to the high price reached in the 1st week of January of this year. That level comes in at 29794. I would take the index down around -20.4% and put it into bear market Bear Market A bear market is defined as a financial market in which prices are falling or are expected to decline. This designation is most commonly used in the stock market, though can also be applied to other markets as well, including real estate, foreign exchange, commodities, etc.A bear market differs from periodic declines in assets by virtue of its duration, not frequency. For example, a bear market will typically see extended periods during which large numbers of stock share prices are falling over A bear market is defined as a financial market in which prices are falling or are expected to decline. This designation is most commonly used in the stock market, though can also be applied to other markets as well, including real estate, foreign exchange, commodities, etc.A bear market differs from periodic declines in assets by virtue of its duration, not frequency. For example, a bear market will typically see extended periods during which large numbers of stock share prices are falling over Read this Term territory.

During the pre-pandemic tumble, the Dow industrial average fell -38.4% him him from the high to the low.

Also between the 38.2% retracement and the 200 day moving average, is the swing high from the pre-pandemic tumble back in February 2020. That level comes in at 29610.18.

So the index is reaching a key cluster of levels, and the bear market territory for this index. Key area.

Since the high for the year was in the 1st week of trading, the year to date gains and losses are pretty good proxies for the strongest and weakest of the Dow 30 stocks.

The top 5 – and the only 5 that are in positive territory - are led by a Chevron at +31.82%. Merck and Company is up 9.85% end the travelers is up 3.21%.

The biggest losers are led by Disney (-39.2%), Salesforce (-37.13), Nike (-36.16%) , HomeDepot (-34.61), and Boeing (-33.5%).

Walmart and American Express are in the middle of the Dow30 with Walmart down -16.71% YTD and American Express down -16.18%.