US stock markets closed mixed in trading (10/11/2020), with the Dow Jones gaining while the S&P 500 and Nasdaq declined. Investors are turning again from technology-based stocks to more traditional sectors. This was motivated by news of vaccine developments which raised optimism for a full economic reopening.
Meanwhile, the market rallied for 4 consecutive days, sending JCI further away from the consolidation area and towards the psychological level of 5500. However, today’s JCI movement is quite prone to correction because it is already in the overbought area. Investors will also be aware of the open gap that occurred yesterday in the area of 5,395-5,412.
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