DJIA Market Close for Tuesday, May 29, 2012

The Dow closed up +115.75 (+0.93% at 12,570.58.

Markets headed higher after I successfully called an intermediate, temporary, limited bottom last week (ha,ha,ha).

I think the market is going higher because Facebook is going lower. we do need to get more upside for the Facebook downside though Facebook was down 10% and the market was up only 1% and change.

There were only two Dow losers today, MCD and XOM.

Leaders, 28 of them, were led by none other than BAC, AA, CAT, UTX, DIS, HPQ, MSFT and CSCO.

Bank of America (BAC) rose a hefty 4%, leading gainers on the Dow. Aluminum producer Alcoa (AA) was up there too, rising more than 3%.

The dollar was down against the euro and British pound, but gained versus the Japanese yen.

Oil for July delivery slipped 10 cents to settle at $90.76 a barrel.

Gold futures for June delivery dropped $20.02 to $1,552.80 an ounce.

The price on the benchmark 10-year U.S. Treasury was up, with the yield falling to 1.72% from 1.74% on Friday.

Both comments and pings are currently closed.

Comments are closed.