As a result of a host of concerns (looming fiscal cliff, European debt crisis, slowing Chinese economy, geopolitical issues, etc.), the Dow has pulled back from its post-financial crisis high of one month ago. For some perspective, today’s chart illustrates the overall trend of the stock market (as measured by the Dow) since 2003. As today’s chart illustrates, the post-financial crisis rally was especially sharp during its first two years. Since then, the rally slowed but continued to trade above support (green line) — until now. The sharp selloff over the past two days has resulted in the Dow breaking below its 3.5-year, upward sloping support trendline.

Notes:
Where’s the Dow headed? The answer may surprise you. Find out right now with the exclusive & Barron’s recommended charts of Chart of the Day Plus.

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