Wednesday, October 12, 2011

Daily Dow Jones Is Having More Tug-Of-War Following The Doji Formation

Wall Street Outlook: Dow Jones down 15 points to 11418
The Dow Jones ended mixed (moving +15 points and -67 points), as investors kept their focus ahead of the Alcoa’s results and on developments in the euro zone after Slovakia failed to approve an overhaul of Europe’s bailout fund. While no date has been set for a new vote, Slovakia’s Finance Minister said the Europe’s bailout fund will likely be passed this week.

Meanwhile, Greece could be receiving another lifeline in November from its international lenders in order to avoid bankruptcy. Inspectors from the Troika (EU/IMF/ECB) said an €8 billion loan tranche should be paid in early November.

After the bell, Alcoa (the world largest aluminum smelter) reported third-quarter profit that trailed analysts’ estimates but revenue was ahead. Other key companies slated to report their 3Q results this week are Pepsico (Wednesday), JP Morgan and Google (Thursday).

Daily Dow Jones Is Having More Tug-Of-War Following The Doji Formation
DowJones12-10-2011



Source: HLIB Research

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