Friday, June 18, 2010

Dow ...late rally lifted and closed in a little green.

Dow managed to closed in a little green  a highly volatile session..as per MACD it was  bearish till 0130 Hrs and after that volatility increased to its peak ...

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U.S. stocks rose in a late rally on Thursday, overcoming weak economic data that added to worries about a fragile recovery, while European shares and the euro gained on reassuring demand for Spanish government bonds.
A spurt of buying momentum in a choppy session drove gains as U.S. equities built on a break in the benchmark S&P 500 index above its 200-day moving average earlier this week.
Prices for gold rose on a combination of safe-haven demand and the weaker U.S. dollar. Crude oil prices slipped on the disappointing economic data.
A plunge in an index of factory activity in the U.S. mid-Atlantic region in June to its lowest level since August 2009 added to worries that a tepid U.S. economic recovery is fizzling. 
Higher-than-expected weekly claims for U.S. jobless benefits and the largest drop in U.S. consumer prices in nearly 1-1/2 years also weighed on U.S. shares and caused European shares to pare early gains.
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U.S. equities drove higher in the last 30 minutes of trade. The Dow Jones industrial average rose 24.71 points, or 0.24 percent, to close at 10,434.17. The Standard & Poor's 500 Index .SPX gained 1.43 points, or 0.13 percent, to 1,116.04. The Nasdaq Composite Index  climbed 1.23 points, or 0.05 percent, to 2,307.16.
"I don't think that the buyers are willing to give up on the market just yet, we still have quite a bit of momentum," said Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey.

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Index Value:10,434.17
Trade Time:4:02PM EDT
Change:Up 24.71 (0.24%)
Prev Close:10,409.46
Open:10,409.98
Day's Range:10,319.22 - 10,441.20
52wk Range:8,057.57 - 11,309.00




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