Monday, December 19, 2011

Daily DJIA: More Range Bound Consolidation Ahead

Wall Street recap: Dow Jones ends flat to record a 2.6% weekly decline
The Dow Jones jumped as much as 99pts buoyed by recent positive economic data and an easing inflation in November that could create room for Fed stimulus in 2012.

However, the gains evaporated after Fitch put 7 Europe countries (i.e. France, Belgium, Spain, Slovenia, Italy, Ireland and Cyprus) on credit watch negative, citing the higher probability that it could downgrade these nations in the next few months. The sell-off was also driven by the "quadruple-witching”.

Daily DJIA: More Range Bound Consolidation Ahead
DowJones19-12-2011



Source: StockCharts.com

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