Dow Jones futures outlook august 20 2012

Dow Jones futures outlook august 20 2012 : U.S. stock prices rose on Friday after consumer sentiment figures beat expectations. At the close of U.S. trading, the Dow Jones Industrial Average ended up 0.19%, the S&P 500 index was up 0.19% while the Nasdaq Composite index was up 0.46%. It was the sixth straight week of gains for the Dow and the S&P 500.

The Thomson Reuters/University of Michigan preliminary consumer sentiment index for August hit its highest level since May at 73.6, up from 72.3 last month, outpacing economists' forecasts for a 72.4 reading.

Meanwhile, the Conference Board reported that its leading index rose 0.4% in July, up from a 0.4% drop in June. Analysts were predicting the index to rise by 0.2%. The data came in wake of other indicators that pointed to an improving U.S. economy.

U.S. industrial production outpaced expectations in July, climbing 0.6%, above forecasts for a 0.5% increase. Retail sales in the U.S. jumped 0.8% in July after a 0.7% drop in June, shooting way past market expectations for a 0.3% increase.

The Dow Jones had a positive week for the last five sessions yet again. This finds the market at the 13,275 level, which is just below the 13,300 level needed to break to yet another high. This does indeed look bullish, and it should be suggested that every time there is

a fall in this market there are buyers to step in and pick it back up.

This very well could be in reaction to the idea of the Federal Reserve expanding quantitative easing during the month of September, but the reality is that it doesn’t matter why it’s doing this, just that it is. The market looks set to keep rising, and we fully expect to see 13,500 in the relative near future. Because of this, we are buying industrial stocks on pullbacks in general. We do not see the wisdom in shorting the Dow Jones 30 at this point in time.

Dow Jones Recommended Levels‎ 20/8/2012
Today's support: - 13283.20 and 13249.50(main), where a delay and correction may happen. After that 13218.80. Break of the latter will give 13175.40, where correction also can be. Then follows 13134.12. Be there a strong impulse, we shall see 13083.30. Continuation will bring 13062.23.

Today's resistance: - 13339.80(main), where a delay and correction may happen. Break would bring 13364.18, where a correction may happen. Then follows 13387.50, where a delay and correction could also be. Be there a strong impulse, we'd see 13412.60. Continuation would bring 13435.33.

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