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US stocks close little changed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Wall Street closed mixed, but with no significant intraday changes, as the DJIA advanced 27 points, or 016%, ending at 17,758.21, but the Nasdaq lost 0.24% and the S&P advanced 0.15%.

    Poor Chinese inflation data was in the eye of the storm, fueling concerns over the country's economic slowdown deepening, but investors stood in the sidelines ahead of further Chinese macroeconomic releases during the upcoming hours, and the US holiday.

    DJIA technical perspective

    “The DJIA daily chart shows that the index met buying interest on an intraday decline down to a bullish 20 SMA, while the technical indicators have corrected their extreme overbought readings and turned flat above their mid-lines, limiting chances of a downward continuation as long as the index holds above the daily low of 17,655”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, however, the index remained below a mild bearish 20 SMA, while the technical indicators are ready to resume their declines in negative territory after a limited upward corrective move, in line with the longer term outlook”.

    Support levels: 17,754 17,655 17,544. Resistance levels: 17,795 17,862 17,979.
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