Stock Market Today: Sell-off Intensifies

April 20, 2021, 11:52 am EDT

Sell-off Intensifies

Selling power intensifies today with DJIA -300 points as of now. We can see from the chart of Dow Jones ETF (DIA) where the rising wedge pattern is about to break. It means that the uptrend made by the past 6 weeks is about to over. 

Only defensive sectors, Utilities, REIT, consumer staples, and healthcare, are able to hold up.

Thus, it is to time to prepare for a much bigger storm by reducing portfolio holdings, avoid buying new positions, and monitor markets’ development. 

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