This blog is committed to the serious study and valid understanding of technical analysis and its objective application to stock selection, risk management and execution primarily in the context of trading stocks listed in the Philippine Stock Exchange (PSE).

Sunday, January 13, 2008

DJIA, 1/11/08

  • Trending down in a channel
  • Encountering difficulty to launch a correction after a bounce off the recent support
  • Slope and flaring of the MAs and the MACD signal line illustrate that the downtrend continues to gain momentum
  • Major support/resistance levels: 12501/13780
  • No visible evidence of a bottoming pattern

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