Thursday, October 13, 2011

Daily Dow Jones Has More Profit Taking Consolidation Amid Extremely Overbought Slow Stochastic And A Hangman Formation

Wall Street Outlook: Dow Jones trims losses to 41 points from as much as 141 points
The Dow Jones tumbled as much as 141 points intraday before ending at 40.7 points lower to 11478 after JPMorgan earnings depressed investors and the euphoria over a possible quick solution to Europe's debt-and-banking crisis faded, offsetting hopes for results from Google Inc after the close.

Sentiment remains skittish as China reported slower exports and Fitch Ratings placed Bank of America, Morgan Stanley and Goldman Sachs on review for possible downgrades on Thursday, while UBS was downgraded. Stocks trimmed losses as chipmakers in the S&P 500 added 1.9% and after Slovakia's parliament approved Europe’s enhanced bailout fund, completing ratification across the 17 euro countries as the region’s leaders prepare for a summit by next week.

Daily Dow Jones Has More Profit Taking Consolidation Amid Extremely Overbought Slow Stochastic And A Hangman Formation
DowJones14-10-2011



Source: StockCharts.com

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