The Dow lost 156.06 points to close at 12,442.49 on Thursday. It's now down 6% for the month so far and could be headed for its first losing month since September. The two-week slump represents a sharp turn downward since May 1, when the index closed at a four-year high.
The slide, which is largely due to escalating worries about a breakup of the European currency union, has stripped the Dow of much of this year's gains. As of the beginning of May it was up 8.7% for the year; now it's up just 1.8%.
Dow Jones Recommended level today may 18 2012
Today’s support: - 12420.33 and 12397.50(main), where a delay and correction may happen. Break of the latter will give 12372.19, where correction also can be. Then follows 12350.16. Be there a strong impulse, we shall see 12318.72. Continuation will bring 12301.80 and 12252.30.
Today’s resistance: - 12610.20 and 12656.06(main), where a delay and correction may happen. Break would bring 12682.24, where a correction may happen. Then follows 12743.80, where a delay and correction could also be. Be there a strong impulse, we’d see 12791.20. Continuation would bring 12823.35.
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