Monday, July 4, 2011

Dow Jones Surges 1.4% To Record A Superb 5.4% Weekly Gain

Wall Street recap: Dow Jones surges 1.4% to record a superb 5.4% weekly gain
The Dow rallied 169 pts to 12583 on receding fears of Greek default and a stronger-than-expected June ISM of 55.3% (May: 53.5%). This offset weaker June consumer sentiment index of 71.5 (May: 74.3) and concern about end of QE2.

Wall Street will be closed on 4 July for Independence Day holiday.

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).

Daily Dow Jones Profit Taking Could Cap Further Rally Due To Toppish Slow Stochastics Reading

Weekly Dow Jones Poised To Retest Long Term Up-Trend-Line (UTL) Near 13000 Points Amid Bullish Technicals


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