Tuesday, January 25, 2011

Daily Dow Jones Might Preparing A Pullback When RSI Surpasses 80, 25-01-2011

On Wall Street, the Dow Jones surged 109 points to 11981, the highest since June 2008 on rising M&As (eg Rock-Tenn acquisition of Smurfit-Stone Container at US$3.5 billion and Novartis purchase of Genoptix at US$470 million) coupled with Intel’s US$10 billion share buyback scheme.

To date, nearly 75% of the 84 S&P 500 companies that have reported results have beaten analysts' estimates.

Key results and economic data slated for this week are 3M/January consumer confidence (January 25), FOMC statement/Verizon/Yahoo (January 26), Microsoft/Nokia/December Durable orders goods (January 27)and 4QGDP/January consumer sentiment (January 28).


Daily Dow Jones Might Preparing A Pullback When RSI Surpasses 80

DowJones25-01-2011

Source: StockCharts.com

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