Wednesday, December 15, 2010

Dow Jones Intraday Chart Shows Strong Uptrend Line, 15/12/2010

Wall Street market maintain positive outlook following the Fed’s decision to keep the fed fund rate at 0.25%, which was in-line with market expectations. The Dow Jones closed slightly higher to 11,477 point.

As such, we expect the Dow and the S&P 500 to continue their bullish momentum, and to set new highs for the year. At this time, investors are maintaining their positive view of the market and awaiting the US Senate’s decision to extend Bush-era income tax cuts.

The next key economic indicators to watch out for are the December MBA Mortgage Applications (November: -0.9% yoy), and the November industrial production index (consensus: +0.3% yoy; Oct:0.0% yoy).

Dow Jones Intraday Chart Shows Strong Uptrend Line.

Source: Bloomberg

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