Sentiment among U.S. builders hit a five-year high, giving homebuilder stocks a strong boost. But Greek politicians declared an impasse on forming a government there, ensuring another round of destabilizing elections. The euro fell to a four-month low.
The Dow closed down 63 at 12,632. The S&P 500 closed down eight at 1,331. The Nasdaq closed down nine at 2,894.
Dow Jones Index forecast may 16 2012
Today's support:
- 12602.63(main), where a delay and correction may happen. Break of the latter will give 12578.10, where correction also can be. Then follows 12553.60. Be there a strong impulse, we shall see 12528.87. Continuation will bring 12504.37 and 12486.50.
Today's resistance:
- 12823.35(main), where a delay and correction may happen. Break would bring 12858.72, where a correction may happen. Then follows 12915.00, where a delay and correction could also be. Be there a strong impulse, we'd see 12937.40. Continuation would bring 12967.36.
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