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US stocks close little changed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - US stocks ended little changed on Tuesday, having erased early gains weighed by the energy sector, amid falling oil prices.

    Equities were unable to rally, as a sell-off in bonds and improved US inflation data bolstered the case of a US rate hike next December. Also some risk aversion was sparked by the end of the session following the evacuation of a Hanover soccer stadium in Netherlands amid “concrete” bomb threats.

    The Dow Jones advanced 6.49 points, or 0.04%, to end at 17,489.50. The S&P 500 dropped 2.75 points, or 0.13%, to close at 2,050.44. The Nasdaq rose 1.40 points, or 0.03%, to 4,986.02.

    DJIA technical perspective

    “The daily chart for the DJIA shows that the technical indicators have recovered further, but are still below their mid-lines, whilst the index is unable to establish back above its 200 DMA”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the Momentum indicator maintains a strong upward slope well into positive territory, but the RSI indicator has turned flat around 50, limiting chances of a stronger advance for this Wednesday”.

    Bednarik locates next support levels at 17,485 17,405 17,335, while she places resistances at 17,570 17,662 17,715.
    For more information, read our latest forex news.
     

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