Chart of the Day

For some perspective on the current stock market correction, today's chart presents the bear market trend of the Dow (October 2007 to present). Today's chart illustrates that, since peaking in October 2007, the Dow initially traded within the confines of a relatively moderate, downward sloping trend channel (dashed green and dashed red lines). However, as the financial markets began to freeze, that downtrend accelerated – dramatically. Currently, the Dow is testing resistance (red line) of its accelerated downtrend but has yet to break through and therefore remains in a downtrend until proven otherwise.

Source - Dow Jones