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 5, 2008

DJIA, 2/4/08

PRICE AND TURNOVER
Close: 12,635.16
Change: -108.03 (-0.85%)
Volume: 599,314,496

MARKET BREADTH (NYSE)
Net adv/dec issues: -648
Net new highs/lows: -8
Net up/down volume: -1,280,227,268

The Dow closed lower on an inside day accompanied by declining volume ending two days of gains. The sellers were clearly in control for most of the day when the index opened at 12743 and closed at 12621. For the past two days the market challenged the 12750 level but failed when the sellers took over. A lower close tomorrow could signal a possible end of the short term rally and the resumption of the downtrend.

No comments:

Post a Comment