Dow Jones Industrial Average (DJI)
enjoyed a triple-point rally today, erasing all of Monday's
143-point decline. "With the strong sell-off yesterday, it was a
nice sign that the market reversed its course," remarked
Schaeffer's Senior Equity Analyst Joe Bell. "While many on Wall
Street will be looking toward the Greek elections this weekend, the
uncertainty surrounding euro-zone economics will continue to
amplify the current volatility and trading range-type behavior."
Keep reading to see what else was on our radar today:
And now, a look at the numbers...
- Is a
bullish omen rising
from the narrowing bond yield spread?
Option Trend Tracker
: get a read on the latest options activity for three hot
Which way now?
Bullish and bearish speculators are searching for direction in
rumor-driven, up-and-down market
Dow Jones Industrial Average (DJI - 12,573.80)
regained all of yesterday's losses (and then some), surging 162.6
points, or 1.3%, to close just below its session peak of 12,577.02.
Twenty-nine of the 30 blue chips moved higher today, as Boeing
) led the parade of gainers with a 2.5% jump. United Technologies (
) was the lone laggard, turning in a loss of 0.4%.
S&P 500 Index (SPX - 1,324.18)
nearly compensated for Monday's decline, tacking on 15.3 points, or
1.2%, while the
Nasdaq Composite (COMP - 2,843.07)
leapt 33.3 points, or 1.2%.
CBOE Market Volatility Index (VIX - 22.09)
turned lower today, decreasing 6.2%, to end at its session low.
: "In the short-term, most of the major indices appear to be
stuck in quite the trading range
," said Bell. "But the SPX found support from the round number
1,300 area, and had a nice bounce today."
Turning to today's major market stories...
For today's activity in commodities, options, and more, head
to page 2.
Oil futures held onto early gains today and closed with their
first win after three straight down days. The commodity moved in
step with equities as speculators weighed ongoing developments in
euro zone's fight against economic discord
. Crude for July delivery added 62 cents, or 0.8%, to finish at
$83.32 a barrel.
Gold futures climbed higher for a third consecutive session, as
the safe-haven commodity got a boost from the fiscal troubles in
Europe and anticipation for additional quantitative easing. While
the dollar took a hit, August-dated gold jumped $17, or 1.1%, to
land at $1,613.80 an ounce.
Levels to Watch in Trading
- Dow Jones Industrial Average (DJI - 12,573.80) - support at
11,500; resistance at 14,000
- S&P 500 Index (SPX - 1,324.18) - support at 1,100;
resistance at 1,500
- Nasdaq Composite (COMP - 2,843.07) - support at 2,400;
resistance at 3,400
For today's notable annual highs and lows,
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