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DOW JONES: 26-12-2016

DOW JONES: 26-12-2016
December 25
19:39 2016

As expected Dow Jones is making new highs every day, but higher level profit booking trimmed most of its gains due to overbought situation.  Dow Jones is still bullish and has resistances at 19992 and 20251.  Dow has support at 19816 and 19734.  S&P 500 VIX is also suggesting further upside to the market because the VIX is at 11.44, showing confidence among the investors. The latest data from US regarding GDP was above market expectation.  US GDP increased at 3.5% annually instead of the previously reported 3.2% pace.  On the other hand US consumer spending was below street expectation, it rose 0.2% in November.  Dollar index was steady at 103.06 and it is very close to its 14 years high.

 

Image Credits: “Venturelli Luca/Shutterstock.com”

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ALEX MATHEWS

ALEX MATHEWS

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