It was a quiet Monday for stocks, Dow Gains 29 points as Eclipse more interesting than the markets.In addition to these, Dow Jones U.S. Total Stock Market Index finished below their uptrend lines last Thursday.The market is coming off of two straight weeks of losses.
Yesterday Dow Jones Index was opened at the level of 21671.36. Then the index went to the lows of the day. After hitting the low of the day at 21600.34 the responsive buyers came in and the Dow 30 index starts to move up. At the fag-end of the day, the Dow 30 index surged to register the days high at 21718.74. Finally, the Dow 30 index closed at 21703.75 with 29.24 points or 0.13% gain.
Calm Before Storm Dow 30 Ready for Big Move:
On Dow Jones 30 index yesterday the bulls at least made a small bounce. If Monday’s low of 21600 holds we may expect a rally towards the resistance zone of 21820 to 21840. If the support was broken then the slide may continue. yesterdays small move looks like Calm Before Storm Dow 30 Ready for Big Move. Wait and watch.
Leaders and Laggards on Monday:
1.Herbalife Ltd. (NYSE: HLF) Gained more than 11% after saying it had held talks to be taken private.
2.Fiat Chrysler Automobiles NV (NYSE: FCAU) jumped over 7% after Chinese SUV maker Great Wall Motors is considering an offer to buy Fiat Chrysler’s Jeep unit.