In One Chart: This 501-day trading streak for the Dow just came to a screeching halt

An uncanny streak for the Dow Jones Industrial Average, which had underlined its bullish momentum, ended on Monday, signaling that a bearish turn may be at hand.

The Dow DJIA, -1.33% closed sharply lower, falling around 328 points, or 1.3%, to 24,252.80, below its 200-day moving average, which stood at 24,280.02. That represents the first close below the average since the summer of 2016, when the U.K. vote to exit from the European Union sent shivers through global markets.

According to Bespoke Investment Group, “the Dow hasn’t closed below its 200-day moving average for 501 consecutive trading days going back almost two years exactly to June 27, 2016 (when the market reacted negatively to the UK Brexit vote).

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