Wednesday, February 15, 2012

Dow Jones- Uptrend Is Loosing Steam Amid A Rising Wedge Pattern

Wall Street Recap: Dow Jones falters on Greece debt impasse and Fed minutes
The Dow Jones inched up 21 points higher in the opening amid better-than-expected Feb home builders index and Empire state index reports, China’s commitment in buying Eurobonds and lower-than-expected decline in euro-zone economy.

However, the gains were erased and the Dow Jones finally dropped 97 points after the FOMC’s minutes from its 24-25 January meeting showed only a few members of the policy-setting panel favored another round of quantitative easing while the decision slated for Greek’s €130 billion of aid was postponed again.

Daily Dow Jones- Uptrend Is Loosing Steam Amid A Rising Wedge Pattern
DowJones16-02-2012



Source: StockCharts.com

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