Futures on US stock indexes have attempted to return to the growth trajectory after the labor market data for April signaled that the world’s largest economy after the recession in the first quarter recovered more active than feared lately investors. At the end of the month, it added 223,000 jobs, which corresponds to GDP growth at the level of 2.5-3.5%.
Thus, market participants were able to believe that the recession in the first quarter was largely due to the transit factors than sustainable. Coupled with an increase in new orders reported in the PMI indices for manufacturing and services, prospects for the second quarter of flats looking now more optimistic. Dow index marked steady growth and are ready to test the strength of the yearly highs. We are looking for shopping opportunities.
|Dow Jones chart|
Support and resistance levels
Support 1 17899
Support 2 17800
Current price: 18108
Resistance 1 18048
Resistance 2 18270
Dow Jones index (YM) – buy Dow index – Purchases, if the quotes will move up after testing support 18048. The purpose – 18270. Stop-Loss = 17899
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.