Tuesday, November 15, 2011

Daily DJIA: To Trade Range Bound Within 30-Days SMA And Upper Bollinger Band

Wall Street recap: Dow Jones down 74 points on profit taking
After recoding a 2.2% gain last Friday, the Dow Jones closed down 74 points to 12079, off intraday low of 12027. The index was down as much as 126 points amid weakening euro and Italy’s borrowing costs which surged to 6.29% at an auction, deepening concerns that Europe will struggle to contain its debt crisis.

Sentiment was also dampened by German Finance Minister’s comment that Europe’s permanent bailout fund may not be implemented before 2013 and German Chancellor’s party voted to offer euro states a way to leave the currency area, signaling a first step towards the foundation of a two-speed Europe—a region with and without the euro currency.

Daily DJIA: To Trade Range Bound Within 30-Days SMA And Upper Bollinger Band
DowJones15-11-2011



Source: StockCharts.com

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