From our vantage point, the latest three day rally failed, evidenced by a new 2010 low close for the Dow Jones Industrial Average & benchmark S&P 500 index. It is well known that a market should not be considered “healthy” unless it trades above its rising 200-day moving average (DMA) line. The fact that all the major averages are below both their 50 & 200 DMA lines bodes poorly for the near term. That said, the bears will likely remain in control until the popular averages close above their important moving averages.