- Wall Street was a mixed end tot he week and month, with the S&P 500 and Nasdaq closing in the green but the DJIA as the laggard falling behind the curve.
- The S&P 500 rose 0.9% to end around 2,705.
- The Dow Jones Industrial Average fell 12 points, or less than 0.1%, to 25,002.
- The Nasdaq Composite advanced 1.4% to end near 7,282.
U.S. stocks ended a touch higher on Thursday, following the Fed turning neutral and confirming market's suspicions. Data will be the key driver from here as well as progress between the US and Chinese trade talks.
While the DJIA ending slightly lower on the session, for the month, the index enjoyed its best January since 1989, while the S&P posted its best January since 1987 as investors get set for a retrun of the reflation trade and easier money. Additionally, the sound bites from Sino/US trade talks were flowing and positive, stoking investor risk appetite to the upside. Sweeping across the benchmarks, shares of Facebook Inc. stood out, surging 11% after the social media firm reported record profit numbers. However, the top performer in the DJIA was Pfizer, higher by 2.98%. Caterpillar followed at 2.34% higher and Procter & Gamble added 2.06%. Dowpupont Inc dropped over 9% and was followed by Goldman Sachs down by 2.21%.
DJIA levels
- Support levels: 24902 24697 24169
- Resistance levels: 25225 25431 25754
The index is stuck around the 61.8% Fibo retracement of the Oct 2018 decline and the technical death cross, (50 crossed below the 200 D SMA mid-Dec) lean bearishly on the index. A significant correction in the index will now target 9th Jan swing high at 24025. Bulls will now target a break and hold above the 61.8% fibo and the confluence of the 100/200-D SMA for a run towards R3 located at 25754.
DJIA
Overview:
Today Last Price: 25080
Today Daily change: 56.00 pips
Today Daily change %: 0.22%
Today Daily Open: 25024
Trends:
Daily SMA20: 24347.7
Daily SMA50: 24131.56
Daily SMA100: 24925.6
Daily SMA200: 25067.58
Levels:
Previous Daily High: 25112
Previous Daily Low: 24586
Previous Weekly High: 24858
Previous Weekly Low: 24246
Previous Monthly High: 26076
Previous Monthly Low: 21684
Daily Fibonacci 38.2%: 24911.07
Daily Fibonacci 61.8%: 24786.93
Daily Pivot Point S1: 24702.67
Daily Pivot Point S2: 24381.33
Daily Pivot Point S3: 24176.67
Daily Pivot Point R1: 25228.67
Daily Pivot Point R2: 25433.33
Daily Pivot Point R3: 25754.67
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