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).

Friday, March 21, 2008

DJIA 3/20/08 WEEKLY STOCK MARKET REVIEW


MARKET BREADTH
AdvIssues: +1,558 * NewHighs: -117 * UpVol: -1,243,468,758

TECHNICAL ANALYSIS
Primary Consolidation * Secondary Downtrend * Near Term Consolidation
Support 11,600-11,700 * Resistance 12,800

OUTLOOK
Today's quadruple witching session ends with the Dow up 2.16% for the day and 3.43% for the shortened but wildly volatile trading week. The index continues to meander inside the 11600-12800 band. I dont expect any important technical signals or alerts until it breaks out of this range one way or the other. Waiting really tests the traders' patience.

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