Dow Jones futures prediction may 16 2012

Dow Jones futures prediction may 16 2012 ; Stocks are closing lower as the Dow Jones industrial average continues a two-week slide that has shaved off nearly five percent of its value. U.S. stock indexes wavered between modest gains and losses Tuesday as traders weighed encouraging economic reports against European headlines that sent overseas markets reeling.

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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