Tuesday, March 1, 2011

Dow Jones Is Upside Bias As Technical Readings Are On The Mend With Index Return Above The Mid Bollinger Band Again,01-03-2011

On Wall Street, Dow jumps 96 points on easing oil and Buffett optimism.

Dow rose for the 2nd consecutive day amid falling oil prices, rising M&As as well as Buffett’s optimism on the US economy and he is eying for more acquisitions. Sentiment was further boosted by Ventas acquisition of Nationwide Health Properties
for US$5.8 billion and speculation that Blackstone Group agreed to buy Centro Properties U.S. shopping centers for US$9.4 billion.

Fed officials hinting they were ready to support the economy if needed also helped Dow as concern mounts on the repercussions of current bond-buying program maturity in June.

On the economic front, personal income and Chicago PMI were better than market expectations but consumer spending was slower and pending home sales continued to drop.

Dow Jones Is Upside Bias As Technical Readings Are On The Mend With Index Return Above The Mid Bollinger Band Again.
DowJones01-03-2011


Source: StockCharts.com

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