Dow Jones Industrial began deadly rally, bears flee from the market in panic

Dow Jones Industrial Average is rising to record levels against the background of the general positive market

In brief: The level of support for the Dow Jones was extremely high. Dow index is growing so quickly that the bears do not even try to take mitigating action.

Revaluation of the Yuan was excellent news for the U.S. stock market. The level of support at today’s bid for Dow Jones Industrial Average is becoming higher. Dow Jones Industrial Average began trading with record highs – +119.79 points (1.15%). Dow index is at around 10,570.43 points. On Monday, June 21, in the United States is not expected to yield any major or minor macroeconomic statistics. The calendar of corporate accountability would only producer of smartphones Palm.

On Friday at the U.S. session, the U.S. dollar traded in a range against the major currencies against the lack of data on the U.S. and yet, any significant events. Against the backdrop of the prevailing uncertainty in the market, capital flows went to the precious metals as a safe assets, and currency receded into the background. Data from the U.S. on Friday was not expected, and the dynamics of the market depended on the stock indices. Stock indices traded with minor modifications, without showing a definite momentum, which served in safe assets, even bypassing the dollar, which is also considered an asset of refuge. Recent data on the U.S. dollar reduced the appeal as an asset-seekers.

Anrey Torbinski
2010-06-21 13:45, Economics.

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