daytrades dec 3 pre-market, page-6

Thanks HLL,

US market results :





http://www.businessspectator.com.au/bs.nsf/Article/US-STOCKS-Futures-tick-higher-ahead-of-ECB-jobless-BRGY6?OpenDocument&src=hp1

Wall Street gains on banks, builders

Reuters

NEW YORK - Wall Street rose led by banks and home builders after European lenders decided to continue a liquidity safety net for vulnerable banks and pending home sales data showed an unexpected jump in October.

The KBW bank index shot up 2.9 per cent, the biggest one-day gain in a month. The S&P 500 financial index rose 2.2 per cent, making it the largest gainer among S&P sectors.

The stock market was reassured by the European Central Bank's commitment that its liquidity safety net for vulnerable euro-zone banks will continue.

Officials have "basically said we will do what it takes and while you can never know what a Band-Aid will look like at any point in time, I think the overall theme is that those Band-Aids will be found," said Bob Doll, chief equity strategist for fundamental equities at BlackRock Inc.

Further supporting the financials, Goldman Sachs Group Inc said US banks are on stronger footing due to an improving economy, higher equity prices and a favourable interest-rate environment.

Shares of regional lender Marshall & Ilsley Corp jumped 7.2 per cent to $US5.23 and Bank of America gained 2.7 per cent to $US11.59.

Home builders' stocks also rose as an index of pending home sales unexpectedly surged in October, hinting the economic recovery has legs. The Dow Jones US Home Construction index advanced 4.3 per cent.

The Dow Jones industrial average rose 102.74 points, or 0.91 per cent, to 11,358.52. The Standard & Poor's 500 Index advanced 13.29 points, or 1.10 per cent, to 1,219.36. The Nasdaq Composite Index gained 24.28 points, or 0.95 per cent, to 2,573.71.

Other data showed US retailers reported higher-than-forecast sales for November, while the four-week moving average for jobless claims fell to a fresh two-year low, though new claims rose for the week.

The Dow and the S&P 500 scored their biggest one-day per centage gains in three months on Wednesday as optimism about efforts to resolve the EU's debt crisis helped push the S&P above 1,200.

If the S&P 500 continues to hold above that level, the market uptrend will see strong resistance at 1,225-1,230, which coincides with a recent two-year high and the 61.8 per cent Fibonacci retracement of the benchmark's slide from October 2007 to March 2009, a key technical indicator.

In company news, PepsiCo Inc agreed to buy Russian juice and dairy producer Wimm-Bill-Dann. US-traded shares of Wimm-Bill-Dann surged 27.3 per cent to $US31.15. In contrast, PepsiCo's stock lost 0.9 per cent to $US65.03.
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To think that 3 days ago my confidence in the supporting trendline was all but shot. Well it held and now the price is back up at resistance as expected. The DOW hit the first resistance line (pink) and closed only 10 points off it, suggests to me it will definitely be looking to penetrate that resistance tonight and move on to the next line (blue).

DJIA daily



The big money seemed pretty certain that the US was going higher last night, yesterdays action on the ASX was super bullish imo, I was expecting around 20 points less and a close below the green ascending trendline. Makes me wonder if some of it is priced in for today considering the US is at resistance?

XJO daily



USD daily



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