PRICE AND TURNOVER
Close 12,209.81
Change -394.64 (-3.13%)
Volume 779.6M
MARKET BREADTH NYSE
Net Advancing Issues -2122
Net New High -11
Net Up Volume 371,181,817
TRENDS
*PROVISIONAL PRIMARY DOWNTREND | Directional wave | Prior support 11634 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Corrective wave | Prior Support 11731 | Resistance 13136
*SHORT TERM PROVISIONAL DOWNTREND | Directional wave | Prior support 12338 - Broken | Resistance 12726
TECHNICAL ANALYSIS
A lower high in the weekly chart constitutes a provisional primary downtrend. The recent support in the short term time frame is broken ensuring a future lower low. The dominating trends in the primary and intermediate timeframes are on a decline therefore we should view the recent ascent in the short and intermediate terms as corrections instead of prematurely anticipating them as reversals. In the primary and intermediate trends we will adopt the important support of 11634 as the price objective while in the short term trend the measured move method yields a TP of around 11750.
STOCK MARKET, ECONOMY & OTHER HEADLINES
AP|Stocks fall sharply on surge in oil, jobs data|Friday June 6, 5:23 pm ET
AP|Oil rises jump more than $10 to new record high|Friday June 6, 3:25 pm ET
AP|Biggest jobless jump since '86 -- Wall Street sinks|Friday June 6, 4:17 pm ET
AP|FTC opens formal probe of Intel|Friday June 6, 4:37 pm ET
Close 12,209.81
Change -394.64 (-3.13%)
Volume 779.6M
MARKET BREADTH NYSE
Net Advancing Issues -2122
Net New High -11
Net Up Volume 371,181,817
TRENDS
*PROVISIONAL PRIMARY DOWNTREND | Directional wave | Prior support 11634 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Corrective wave | Prior Support 11731 | Resistance 13136
*SHORT TERM PROVISIONAL DOWNTREND | Directional wave | Prior support 12338 - Broken | Resistance 12726
TECHNICAL ANALYSIS
A lower high in the weekly chart constitutes a provisional primary downtrend. The recent support in the short term time frame is broken ensuring a future lower low. The dominating trends in the primary and intermediate timeframes are on a decline therefore we should view the recent ascent in the short and intermediate terms as corrections instead of prematurely anticipating them as reversals. In the primary and intermediate trends we will adopt the important support of 11634 as the price objective while in the short term trend the measured move method yields a TP of around 11750.
STOCK MARKET, ECONOMY & OTHER HEADLINES
AP|Stocks fall sharply on surge in oil, jobs data|Friday June 6, 5:23 pm ET
AP|Oil rises jump more than $10 to new record high|Friday June 6, 3:25 pm ET
AP|Biggest jobless jump since '86 -- Wall Street sinks|Friday June 6, 4:17 pm ET
AP|FTC opens formal probe of Intel|Friday June 6, 4:37 pm ET
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