Collapse: Dow Jones Industrial Average and S&P 500 will play hide and seek today

Dow Jones is ready for fresh start on long positions

In brief: Dow Jones Industrial Average will compete with the S & P 500. New highs remain in force.

Dow Jones Industrial is the main hope for the bulls on the stock market in the U.S. today. Bulls substitutes his shoulder support helpfully. U.S. stocks showed signs of life yesterday as they shot higher. Both the Dow Jones Industrial Average and the S&P 500 broke up and through key resistance levels. The question now is…will the uptrend continue?

By breaking above 10,300 and 1,100, respectively, the Dow and the S&P 500 officially broke out of the downward correction they had both been in since the end of April. However, traders are going to be looking to see if those same levels that served as resistace for the two indexes will be able to hold up as new support levels before they get too excited. Looking at the futures contracts for the major stock indexes, the Dow Jones Industrial Average is down 0.48 percent to 10282, the S&P 500 is down 0.63 percent to 1102.2 and the Nasdaq 100 is down 0.53 percent to 1883.25 as we head into the opening bell. In corporate news, FedEx Corporation (FDX) reported earnings per share of $1.33 beating analyst expecations by 1 cent. FDX also issued earnings guidance for next quarter that is mixed based on current analyst expectations, – reports Learningmarkets. At the moment of time Dow Jones Industrial is 10,357.69 points (-0.45%). It looks like the new way of collapse is coming.

Ukrainian Globalist
2010-06-16 13:59, Economics.

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