Monday, October 3, 2011

Dow Jones Daily: Immediate Resistance Levels At 11,000 and 11,160

Wall Street Outlook: Dow Jones plunged 241 points
The Dow Jones plunged 240.6 points to below the 11k mark at 10913.38 points amid dear over global recovery and finished near session lows for the day ahead of the weekend.

This was despite news that Berkshire Hathaway has started share buybacks, slight improvement in consumer sentiment (Thomson Reuters/University of Michigan survey) and business activities in the US Midwest grew more than expected this month.

Dow Jones: Outlook Moving Sideways within a box
Despite the volatility, the Dow Jones is looking like forming a base and consolidating sideways within a box.

Immediate resistance levels are the psychological 11,000 and 11,160 (upper Bollinger band) while support levels are at 10739 (Mid Bollinger Band) and 10581 (lower Bollinger Band).

Dow Jones Daily: Moving Within The Box
DowJones03-10-2011



Source: HLeBroking
Bloomberg

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