The bears were able to push the second wave of support on Tuesday but the bulls battled back in the second half of trading to recover half of the losses on the lows.
The Dow fell 76 points, 0.6%, to close at 12,932. The blue-chips traded down to 12,810 (- 198 points) shortly before Wall Street’s lunch break and we had a sneaky feeling support at 12,800 would stick. Sure enough, it did. If the bears can get a close below this level, we said there could be risk down to 12,600-12,500 this week but the bulls will pull for a close above 13,000 today.
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