PRICE AND TURNOVER
Close 12,503.82
Change - 134.50 (-1.06%)
Volume 643.3M
MARKET BREADTH NYSE
Net Advancing Issues -1285
Net New High -27
Net Up Volume -1,886,361,265
TRENDS
*PRIMARY UPTREND | Corrective wave | Prior support 11634 | Prior resistance 14030
*INTERMEDIATE DOWNTREND | Corrective wave | Support 11634 | Resistance 13136
*SHORT TERM UPTREND | Broken trendline and support | Corrective wave | Support 12442 | Resistance 13136
TECHNICAL SIGNALS
(1) A failure swing signal appears on May-19. (2) The Dow breaks below the short term up trendline on May-21. (3) The index finds new support at 12442 on May-27. (4) It encounters resistance at 12726 on May-30 that establishes a lower high and a provisional downtrend. (5) Today, the average is testing the prior reaction low of May-27.
OUTLOOK
The short term uptrend is changing but it has not yet reversed. The near term critical levels to watch out for are 12442 and 13136. We can expect nothing significant until the index moves out of that range. A close at or near the 12300 level will constitute a valid break of support.
STOCK MARKET, ECONOMY & OTHER HEADLINES
AP|Stocks down after tepid economic data, bank woes|Mon June 2, 5:33 pm ET
AP|Manufacturing, construction, founder; prices rise|Mon June 2, 5:49 pm ET
AP|Gas prices hold the line below $4, oil rises|Mon June 2, 5:19 pm ET
Close 12,503.82
Change - 134.50 (-1.06%)
Volume 643.3M
MARKET BREADTH NYSE
Net Advancing Issues -1285
Net New High -27
Net Up Volume -1,886,361,265
TRENDS
*PRIMARY UPTREND | Corrective wave | Prior support 11634 | Prior resistance 14030
*INTERMEDIATE DOWNTREND | Corrective wave | Support 11634 | Resistance 13136
*SHORT TERM UPTREND | Broken trendline and support | Corrective wave | Support 12442 | Resistance 13136
TECHNICAL SIGNALS
(1) A failure swing signal appears on May-19. (2) The Dow breaks below the short term up trendline on May-21. (3) The index finds new support at 12442 on May-27. (4) It encounters resistance at 12726 on May-30 that establishes a lower high and a provisional downtrend. (5) Today, the average is testing the prior reaction low of May-27.
OUTLOOK
The short term uptrend is changing but it has not yet reversed. The near term critical levels to watch out for are 12442 and 13136. We can expect nothing significant until the index moves out of that range. A close at or near the 12300 level will constitute a valid break of support.
STOCK MARKET, ECONOMY & OTHER HEADLINES
AP|Stocks down after tepid economic data, bank woes|Mon June 2, 5:33 pm ET
AP|Manufacturing, construction, founder; prices rise|Mon June 2, 5:49 pm ET
AP|Gas prices hold the line below $4, oil rises|Mon June 2, 5:19 pm ET
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