Thursday, March 17, 2011

Daily Dow Jones Is Consolidating Sideways Above The Lower Bollinger Band, 18-03-2011

DJIA Recap: Dow rebounds 1.4% after tumbling 3.6% in three days.
After three straight days of losses (cumulative decline of 3.6%), the Dow recovered 161 points or 1.4% to 11775, as Japan moved closer to restoring power at a nuclear plant and better-than-expected FedEx forecast.

Sentiment was also helped by lower weekly jobless claims and stronger Philadelphia-area manufacturing index coupled with expectations of more coordinated action to prevent the March 11 disaster from crippling the Japan’s economy.

Meanwhile, oil jumped 2% to close at US$101/barrel amid escalating violence in Libya and Bahrain as well as the approval by UN to support the use of "all necessary measures" including the use of a no-fly zone to protect civilians and rebel forces in
Libya from forces loyal to Col. Moammar Gadhafi.

Daily Dow Jones Is Consolidating Sideways Above The Lower Bollinger Band.


1 comment:

  1. Dow Jones Industrial Average (DJIA) too, like other indices, took a beating due to panic selling from the investors in the market. The Tsunami, Earthquake
    and Nuclear woes of Japan have a significant impact on the stock market, especially on stocks with close dealings with Japan.

    However, the dow jones rebounded off support and priced upwards for 2 consecutive days. If this continues, the DJIA could well be poised to test it's next level of resistence at 12000 points.

    More on the Dow Jones here


Related Posts Plugin for WordPress, Blogger...