Wednesday, June 6, 2012

Dow Jones prediction today june 7 2012

Dow Jones prediction today june 7 2012 : U.S. stocks closed sharply higher Wednesday, posting the strongest rally of the year, amid growing hopes for further stimulus measures by the Federal Reserve, while comments from European Central Bank President Mario Draghi kept the possibility open of further action should the economy deteriorate.

At the close of U.S. trade, the Dow Jones Industrial Average climbed 2.37%, the S&P 500 index jumped 2.25%, while the Nasdaq Composite index gained 2.40%.

Draghi stated the ECB stands ready to help support the economy should things deteriorate in the euro zone helping to support stocks. The ECB president went on to say the central bank would extend its policy of lending to banks until mid-January 2013 but didn't announce any new three-year lending operations, disappointing expectations for fresh easing measures to stabilize markets. Read Mario Draghi speech june 6 2012

U.S. Federal Reserve Chairman Ben Bernanke will testify before Congress on Thursday, a day after two influential officials in the central bank said they were prepared to take even more policy action to boost the erratic economic recovery.

Analysts will be listening to Bernanke closely for any hints that more bond buys are in store, especially after the lack of immediate aid for the troubled euro zone from the European Central Bank, which put the onus firmly on European policymakers to resolve the debt crisis. Expectations that the ECB would take action had helped bullion rise on Wednesday. read Fed Ben Bernanke expected speech june 7 2012

Dow Jones support and resistance today june 7 2012
Today's support: - 12200.63, 12135.70 and 12060.00 (main), where a delay and correction may happen. Break of the latter will give 12021.63, where correction also can be. Then follows 11997.13. Be there a strong impulse, we shall see 11968.03. Continuation will bring 11948.50.

Today's resistance: -12426.30 and 12453.67(main), where a delay and correction may happen. Break would bring 12477.20, where a correction may happen. Then follows 12498.73, where a delay and correction could also be. Be there a strong impulse, we'd see 12524.28. Continuation would bring 12553.00, 12578.40 and 12600.00.

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