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Dow Jones leads US stocks lower again- futures prices slide this morning

There was no rebound for the US stock markets yesterday. Those losses were once again led by the Dow Jones. The index had set a low earlier in the session at 38,413 and later closed not much above that low, ending the session 411 points lower, at 38,441. Almost exactly two weeks ago, an update here noted a technical reversal on the Dow and the S+P and how that could herald more downside. Granted it took a couple of days to play out, but as you can see this morning, when looking at the Dow Jones futures, the index is now almost 2,000 points adrift of its record high back then. That is because since the US close last night those Dow Jones futures have taken another hit in Asian trading today. It is a sea of Red across the Asian markets today too, with the Nikkei 225 in Japan leading the downside. Also to note, some while back the notion of selling in May and going away (as the old market saying goes) was floated here. As much as that seems like a proverbial cliche these days, it is also a tenet never to be entirely ignored. The Dow Jones future is currently pricing the opening for later today, at around 38,120
 

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