Monday, May 9, 2011

Dow Jones Will Has More Downward Consolidation If 30-Days SMA Is Broken, 09-05-2011

Wall Street Recap: Dow gains only 55 points, off high from +175 points intraday
The biggest corporate hiring spree in five years ended a weeklong slide on Dow, with the economy added 244k jobs last month (consensus: 185k). The Dow Jones rose 55 ponts to end at 12,639 after surging as much as 175 points.

Week-On-Week (Wow), the Dow Jones slumped 1.3% amid fears of an economic slowdown, weaker-than-expected earnings and a major sell-off in commodity-related counters.

This week, Wall St will focus on economic data i.e. jobless claims/April retail sales (12 May) and May consumer sentiment/April CPI on 13 May while corporate results

Dow Jones Will Has More Downward Consolidation If 30-Days SMA Is Broken.
DowJones09-05-2011


Source: StockCharts.com

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