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).

Tuesday, February 12, 2008

DJIA, 2/11/08




PRICE AND TURNOVER
Close: 12,240.01
Change: + 57.88 (+0.48%)
Volume: 714,959,488

MARKET BREADTH (NYSE)
Net adv/dec issues: +217
Net new highs/lows: -78
Net up/down volume: +724,777,526

OUTLOOK
The Dow falls steeply at the open but quickly capitulates when the buyers take over early in the trading session driving the index in an uptrend to close well off the day's lows and higher than the previous day. For the past 4 days, the index moves sideways in a tight range indicating short term indecision. The bigger trend however remains on a decline favoring a downside break over a shortlived rally.

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