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Dow Jones continues to reject any rebound back above 39,529

The Dow Jones is close to session lows right now even as the Nasdaq 100 recovers from levels below 18,200 this afternoon. In fact as the Nasdaq 100 heads north, the Dow is heading further south. This flip-flop in the price action between the two is nothing new these days, but confusing at times, because it gives no sense of overall market direction. Right now though, tech is bouncing and the cyclical/industrial sector is flagging. It is worth noting here; that the Dow Jones is yet to reclaim any levels above where it closed on Friday (39,475) and certainly not above the noted breakdown level that evening, at 39,529. Perhaps that might happen later, but so far it has not. The Dow Jones is currently trading near session low, right now at 39,345

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