The Dow Jones Industrial Average is the oldest stock index in the world. It brings together, in an «equal-weighted way», the thirty most important listed stocks on North American markets. The index showed a bullish dynamic, supported by ...
Day By Day – Indipendent Research
the 100-day moving average. This reversed during the summer of 2011, following several unsuccessful tests of the major resistance at 12,750 points, giving way to a real crash! This brutal decline has stopped at the support at 10,710 points, close to the 38% retracement threshold of the bullish movement carried out between 2009 and 2011, and the prices have then entered into a very volatile consolidation phase .The bearishmovement is no longer valid, but we do not expect new peaks in the coming weeks: we are neutral in the medium-term.
| Close price | 10913.38 |
|
|
|
| 2 months Opinion | NEUTRAL |
| 2 weeks Opinion | POSITIVE |
|
|
|
| Resistances | 11880 / 12290 pts |
| Supports | 10710 / 10450 pts |
|
|
|
Anticipation :
We are therefore positive in the short-term, and envision a rallying towards the resistance at 11,880 points. We set the invalidation threshold for this positive scenario slightly below the support at 10,710 points.
| Traker’s Name | Leverage | Expense ratio |
| CS ETF (IE) on Dow Jones Industrial Average | x1 | 0,33% |
| Lyxor ETF Dow Jones Industrial Average | x1 | 0,50% |
| SPDR Dow Jones Industrial Average ETF Trust | x1 | 0,18% |
Follow-up Analysys: Our DBD Tracker dated 26/09/2011 recommended the purchase of the ISE National 30 index. Since then, prices have reached our target at 72 980 points: a performance of 8.8%.
DISCAIMER
This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.
Source: ETFWorld – Day By Day – Indipendent Research