Monday, October 10, 2011

Daily Dow Jones Need To Break Downtrend Line Resistance For Further Upside

Wall Street Outlook: Dow Jones eases 20 points but still gains 1.7% wow
After surging 468 points or 4.4% from Tuesday to Thursday, the Dow Jones ended lower by 20 points last Friday on profit taking activities, as Fitch credit-rating cuts for Italy and Spain offset a better-than-anticipated September's payrolls report.

Besides paying attention to the development in Europe crisis, investors will begin to focus on the 1st week of the 3Q11 reporting season. Four important companies to report are Alcoa (Tuesday), Pepsico (Wednesday), JP Morgan and Google (Thursday). The earnings and guidance could give investors some clues on the health of the global economy, following the euro-zone debt crisis.

Daily Dow Jones Need To Break Downtrend Line Resistance For Further Upside
DowJones10-10-2011


Weekly Dow Jones Shows It Is Consolidating Within The Box
DowJones10-10-2011a



Source: HLIB Research

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