Wall Street Traders Report May 13th
It was all positive on Wall Street overnight with the Dow Jones Industrial Average hitting an intra-day all time high of 16,704 points. At the close of trading the Dow Jones had increased 0.68% (112 points) to close at 16,695 and breakout above December resistance which it had attempted to surpass over the past few months without success. Momentum could now continue to push the index forward to resume it’s up-trend so traders can look for opportunities in stocks that make up the Dow Jones Index. I was able to identify two such shares in Catepillar Inc and General Electric that show positive technical setup’s for long position trades.
Catepillar Inc (CAT)
Caterpillar Inc. (Caterpillar) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The stock price is in an up-trend with…
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