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Dow in Crisis? Analyst Phil Blancato Warns Stock Market is Overbought

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By CCN.com: The Dow Jones Industrial Average has added nearly 400 points since March 27, within three days, surging from 25,462 to 25,867. When zoomed out, however, the Dow has struggled to demonstrate strong momentum above the 26,000 level ever since it dipped below that key level on March 1. Why the Dow Could Be on the Decline According to Ladenburg Thalmann Asset Management CEO Phil Blancato, investors oversold stocks in December 2018 due to the negative sentiment in the market, and in January and February, investors overbought. In late December, the Dow dipped to as low as 21,792 points,

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* First published on ccn.com

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