Friday, October 28, 2011

Daily DJIA Having More upside Following The 200-Days SMA Breakout And Bullish Technicals

Wall Street recap: Dow Jones surges 340 points to 12209 on positive EU debt deals
Tracking the buoyant gains in the Asian and Europe markets, Dow soared 340 pts or 2.9% at 12209, its highest close since July 28. US Treasuries and dollar slid while commodities jumped as investors cheered a marathon EU summit meeting that hammered out a commitment by banks and other private bondholders to accept a voluntary 50% writedown on Greek government debt, a boost in the lending power of the European Financial Stability Fund (EFSF) to 1.0trn euro and a 106bn euro recapitalization of European banks.

Sentiment was also boosted by a stronger 3Q11 GDP of 2.5% (2Q11: 1.3%).

Daily DJIA Having More upside Following The 200-Days SMA Breakout And Bullish Technicals
DowJones28-10-2011

Weekly DJIA Is Marching Towards Upper Bollinger Band Amid Bullish Technicals
DowJones28-10-2011a



Source: StockCharts.com

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