Wednesday, December 7, 2011

DJIA Shows Upside Bias Following A Breakout Above The Downtrend Line

Wall Street recap: Dow Jones rises 52 points amid EU optimism
Dow Jones soared as much as 118 points intraday amid a report that EU officials may be creating two separate rescue funds to help contain the region's ongoing sovereign debt crisis. Negotiators are considering allowing the existing €400 billion European Financial Stability Facility (ESTF) fund to continue running when a new €500 billion facility known as the European Stability Mechanism (ESM) comes into force in mid-2012.

Nevertheless, the early gains were cut to 52 points as S&P said it is considering downgrading the EFSF.

Daily DJIA Shows Upside Bias Following A Breakout Above The Downtrend Line
DowJones07-11-2011


Source: StockCharts.com

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