Monday, May 16, 2011

Daily Dow Jones Has More Downside Bias After Falling Below The Downtrend LIne And 10-Days SMA, 16-05-2011

Wall Street outlook: Dow Jones falls 0.8% on inflation and Euro debt crisis concern
The Dow fell 0.3% last week after registering a 0.8% decline last Friday to 12596 pts. The selldown was triggered by hawkish comments from European Central Bank on the peripheral euro zone sovereign debt crisis, swing prices of commodities and
higher April CPI.

As the QE2 comes to end in June, investors are grappled with the implications of a worsening European debt crisis, uneven global economic growth and rising inflations, reflecting growing worries that stocks are on the precipice of a pullback.

Daily Dow Jones Has More Downside Bias After Falling Below The Downtrend LIne And 10-Days SMA.
DowJones16-05-2011


Source: StockCharts.com

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