Fundamental & Technical Analysis 12.05.2011

Dear Trader,

Yesterday, the U.S. reports showed that the Trade deficit increased more than expected in March, recording the highest deficit since June 2010, as it showed that it rose to $ 48.2 K, also the economists expected it to rise to $ 47.0 K in March.

Besides, the American stocks dropped at late trading on Wednesday, to finish therefore 3 days of upward movement due to letting down results of the Disney Company and dropping oil, gold and primary commodity prices. And at the late trade, the Industrial Dow Jones Index of the US company stocks dropped from 130.25 point or 1.02 % to 12630.11 point. Also, the Standard & Poor’s 500 index lost 15.10 points or 1.11 % to reach 1342.06 point. As for NASDAQ index, it dropped to 26.83 point or 0.93 % to 2845.06.