Thursday, February 26, 2009

Financial Crisis, 25 Feb 2009: Dow 7,181.78, -88.81 (-1.22%)

Once again the Dow closed down below 7,200. It was up for most of the day, peaking in the morning hours above 7,400 (7,204.31 to be precise), before cascading down the rest of the day.

This is the fourth day this week the Dow sunk below 7,200, and the second day this week it closed below that point. Based on the trend established after declining from the highs over 9,000 around early January, the Dow seems poised to fall to 7,000.

Tomorrow may prove a crucial test of support above that number.

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