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.
DowJones18-03-2011


Source: StockCharts.com

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
    http://sgsharemarket.com/home/2011/03/dow-jones-rebounded-off-support/

    ReplyDelete

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