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2009 and 2011, and the prices have then entered into a very volatile consolidation phase .The bearishmovement is no longer valid, but we do not expect new peaks in the coming weeks: we are neutral in the medium-term.
|2 months Opinion||NEUTRAL|
|2 weeks Opinion||POSITIVE|
|Resistances||11880 / 12290 pts|
|Supports||10710 / 10450 pts|
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%.
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Source: ETFWorld – Day By Day – Indipendent Research