The Dow and S&P is seen testing the resistance level of 13,000 (broken) and 1370 respectively – 3 points short! The US markets open higher, fell below the flatline and is seen testing the resistance level before lunch. Traders should follow the Dow theory before making a decision. Earlier in the day…
The much awaiting had been annouced (from CNBC first) after an extended meeting (The annoucement/meeting was delayed 6 1/2 hours!). The most important point is that there’s NO default. Whether there is a rally is NOT that important.
Click CNBC for details. Click Marketwatch for details. Click Bloombergfor details.
The (release of the) news does NOT guarantee a market rally! Let’s see how Asia, Europe and the US would react with this news in Equities, Forex and other high yield assets.