Friday, October 2, 2015

US stocks closed little changed

FXStreet (Córdoba) - US indexes closed around their daily opening, recovering from sharp intraday declines ahead of the closing bell. The DJIA closed at 16,272.01, down 12 points, whilst the Nasdaq and the S&P adding a handful of points.

After posting the worst quarterly decline in over four years, Wall Street is struggling to recover its confidence in both, the economic recovery and the Federal Reserve. Also, investors are weighing the impact of the Chinese economic slowdown in the regional companies, while the US will release its latest employment figures this Friday, leading to some choppy intraday trading.

DJIA technical levels

“Technically, the daily chat shows that the index has advanced briefly above its 20 SMA that anyway remains flat, whilst the Momentum indicator has turned back south below its mid-line, and the RSI hovers around 46, all of which maintains the risk towards the downside”, said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart shows that the price is above its 20 SMA whilst the technical indicators aim slightly higher above their mid-lines, supporting some short term advances before the next slump”.

Support levels: 16,215 16,122 15,980. Resistance levels: 16,334 16,444 16,524.
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