US stocks end little changed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - US indexes closed barely in the green in another lackluster journey, as focus shifts towards the upcoming week, with the ECB and RBA meetings, and US Nonfarm Payrolls among other first-tier reports.

    The Dow Jones Industrial Average was confined to a tight intraday range to finally close 1.27 points, or 0.01%, higher at 17,813.46. The Nasdaq added 13.33 points or 0.26% to 5,116.14 while the S&P closed barely unchanged at 2,088.87.

    DJIA technical view

    “As for the technical picture, the DJIA daily chart shows that the index closed with a doji for a second day in-a-row, still holding above a horizontal 20 SMA, whilst the technical indicators are aiming slightly higher in neutral territory, lacking enough momentum to confirm an upward move”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the technical picture is mildly bearish, given that the index is now aiming to break below its 20 SMA, whilst the technical indicators turned lower right below their mid-lines. Nevertheless, US markets will be closed on Thursday due to the Thanksgiving holiday, and there's a good chance that volumes will remain low until next week.”

    Support levels: 17,751 17,690 17,642. Resistance levels: 17,852 17,930 18,010.
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