The chart is ~4 hours old. Past couple of weeks the
DJIA has been consolidating above support - contracting triangle?.
--
World stock markets are weakening. There's a view that
the USFed QE program has been holding up minimal global growth and
without it things are likely to fall apart. Dow multinationals
(CAT, MCD, IBM, ...) who derive a large amount of their profits
offshore should be coming under pressure about now. These
multinationals will most likely be lobbying the USGovt to pressure
the Fed on expanding the QE program, not contracting it. Bernanke
is departing, and there's alot of speculation on whether Obama will
force a change of policy.
DJIA Futures
Posted by rixx on 20th of Jun 2013 at 08:54 am
The chart is ~4 hours old. Past couple of weeks the DJIA has been consolidating above support - contracting triangle?.
--
World stock markets are weakening. There's a view that the USFed QE program has been holding up minimal global growth and without it things are likely to fall apart. Dow multinationals (CAT, MCD, IBM, ...) who derive a large amount of their profits offshore should be coming under pressure about now. These multinationals will most likely be lobbying the USGovt to pressure the Fed on expanding the QE program, not contracting it. Bernanke is departing, and there's alot of speculation on whether Obama will force a change of policy.
good points, thanks
Posted by morton13 on 20th of Jun 2013 at 08:58 am