Don't Ignore This Chart!

Ireland Stock Index Fails at Resistance


Irish stocks surged to resistance last week, but got cold feet on Monday and reversed course after today's bailout news. The chart below shows the Dow Jones Ireland Index ($IEDOW), which is updated throughout the day. The index broke above its Sep-Oct highs on Friday, but reneged on this breakout with a move lower on Monday.


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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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