Friday, December 16, 2011

DJIA: More Consolidation Ahead As Technical Indicators Heading Lower

Wall Street recap: Dow reduces earlier 144-pt gain to 45 points
After plunging 361 points in last three days, the Dow staged a technical rebound to as high as 144 points before ending only +45 points at 11867 on profit- taking.

The improvement was mainly due to a better-than-expected weekly jobless claims and Dec Philly Fed manufacturing reports which overshadowed concern over Europe’s debt crisis and Fitch’s downgrade of 5 major European groups.

Daily DJIA: More Consolidation Ahead As Technical Indicators Heading Lower
DowJones16-12-2011



Source: StockCharts.com

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