Yesterday’s trading session didn’t see any major changes in the US stock market. Indexes showed minor gains. After 4 days of rallying, investors were afraid that a further upswing will be strong and stable. Even the positive labor market report failed to reassure investors.
Dow Jones Industrial Average lost 0,08%, thus declining down to 13165,19. Nasdaq Composite gained 0,25%, thus touching 3018,64. Standard & Poor's 500 increased by 0,04% up to 1402,79.
If to consider the last 4 sessions, Standard & Poor's 500 gained 2,7% and 10% if to consider the period since June 1st. Analysts expect it to decline down to 1389 in late 2012.
According to , Standard & Poor's 500 is in the correctional phase, thus forming wave [c] of (2). The potential is short - the critical level is 1354. Therefore, don’t go bullish at this point.
