Tuesday, March 13, 2012

Dow Jones Up 38 Points For A 4th Straight Gain

Wall Street Recap: Dow Jones up 38 points for a 4th straight gain
Despite the alarming China’s trade deficit news, Dow held up well with a 38 points gain ahead of the FOMC announcement tonight as well as the eurozone finance ministers meeting in Brussels today (which is likely to approve the terms of Greece's second bailout).

Trading volume was thin as investors await some key economic releases i.e. February retail sales (tonight), Feb IPI/March consumer sentiment (16 March).

Overall, the Dow Jones’ near term outlook remains stable, driven by expectations of improving economic data, the Fed’s reinforcement of exceptionally low long-term interest rates until 2014 and the possibility of additional stimulus via sterilized bond-buying program.

The sterilized bond-buying program is designed to drive down long term interest rates to boost economic activity by buying mortgage-backed securities and Treasuries.

Daily Dow Jones - More Range Bound Trading Within The Upper Bollinger Band And 50-Days SMA
DowJones13-03-2012



Source: StockCharts.com

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