Wall Street’s third day higher, Currencies are Still Cautious

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Wall Street’s third day higher, Currencies are Still Cautious

Post  harpal1980 on Fri Aug 21, 2009 2:19 am

The U.S stock indices continued to rally during yesterday’s session, erasing all of Monday’s losses, heading back into prior range. Since the start of the week, sentiment has flipped across the board, as investors have taken advantage of the falling market, to buy-back at lower prices. To date, the S&P500 has returned back into range after closing yesterday’s session above the 1000 mark.

Even though economic data had a mixed affect on the indices at the start of the U.S session, comments from AIG officials, stating that the large insurance company is preparing to pay back government money helped to prevent a fall. The Financial sector led the way higher throughout the session, finishing with a gain of 2.59%

From a technical point of view the index has retraced back into range and is now trading below resistance of 1015.

Read the full article at Dodjit.com


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