Smart Review

Wall Street Moves Sideways

27 January 2012 19:28:22 WIB

Dow Jones

Dow Jones 1-27-2012 7-04-48 PM.png

Intraday bias for Dow Jones is bearish for the time being. The index moves at the range 12653 – 12722 which is the support and resistance range. The index is expected to move towards the support at 12653 and if it breaks probably will be followed by bearish move to the next support at 12583. On the contrary, acceleration above 12722 might push the index to re-test the resistance at 12784.

Nasdaq

Nasdaq 1-27-2012 7-04-55 PM.png

Intraday bias for Nasdaq is bearish for the time being. The index moves at the range 2445.45 – 2466.05 which is the support and resistance range. The index is expected to move towards the support at 2455.75 and if it breaks probably will be followed by bearish move to the next support at 2445.45. On the contrary, acceleration above 2466.05 might push the index to re-test the resistance at 2475.25.

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