U.S. stocks started the day green but quickly turned red closing lower as geopolitical concerns (Turkey’s turmoil) remained in focus. U.S. investors have kept their attention towards developments in Turkey. The fear of the Turkish Lira will keep pushing emerging markets lower, as tensions between the U.S. and other countries (Russia and China) have yet to subside.
The Dow traded down 125 points. Yesterday the index moved downwards reaching towards the 25168.0 level before changing its direction. Today it may continue its move upwards in the route of the 25343.5 resistance before retracting to the 25168.0 area.
Support: 25168.0 25124.5
Resistance: 25343.5 25388.0