World markets continue to slide again on 2nd Oct after yesterday’s steep fall due to the worries about a possible recession in US and World.
As of 8:20pm IST dow down 1.7% or 452 points, nasdaq down 1.47% and S&P down 1.62%.
European markets also trading in deep red with FTSE down 3.11%, Dax down 2.1% and Cac down 2.68%.
Technically also dow jones industrial average entered a negative territory breaking its 50 and 100 day moving averages. Macd also below signal line and about to cross zero levels. Adx also in negative area and rising. So for time being a strong negative trend in Dow technical chart.
But in monthly and weekly chart it is still in very strong positive trend. So chances of major fall still remote unless any strong negative news.