Monday, July 4, 2011

Dow Jones Immediate Resistance Zones Are 12800-13000 Whilst Support Levels Are 12192-12374

Wall Street Outlook: Dow Jones may see minor pullback after huge weekly gains
Wall Street was closed on 4 July for Independence Day holiday.

After a 5.4% surge last week and easing worries of Greek short term debt default, investors will refocus on domestic economic data and 2Q11 earnings release starting next week.

Key economic data this week include May factory orders (5 July), June ISM non-manufacturing (6 July), June ADP payroll (7 July) and June non-farm payroll (8 July).

Immediate resistance zones are 12800-13000 whilst support levels are 12192-12374.

Daily Dow Jones Shows Profit Taking Could Cap Further Rally Due To Toppish Slow Stochastics Reading
DowJones05-07-2011



Source: StockCharts.com

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