OUTLOOK
The Dow Industrials shed 49pts just as crude prices set new highs and bellweather company UPS lowers its earnings guidance [AP|Stocks Fall As Oil Jumps; UPS Warns|Wednesday April 9, 5:43 pm ET]. The index is on the 6th day of correction within the minor uptrend that commenced mid-March 2008. The area of concern remains the 12800 resistance and if it will be able to withstand the advance of the minor trend.
PRICE AND TURNOVER
Close: 12527.26 * Change: -49.18 (-0.39%) * Volume: 555,817,280
MARKET BREADTH
Net Adv Issues: -1402 * Net New Highs: +20 * Net Up Volume: -1,954,925,125
TECHNICAL ANALYSIS
Undefined major trend * Interrupted secondary downtrend * Minor uptrend * Major support 11600-11700 * Minor support 12,200 * Resistance 12,800 * Double top on the weekly chart
The Dow Industrials shed 49pts just as crude prices set new highs and bellweather company UPS lowers its earnings guidance [AP|Stocks Fall As Oil Jumps; UPS Warns|Wednesday April 9, 5:43 pm ET]. The index is on the 6th day of correction within the minor uptrend that commenced mid-March 2008. The area of concern remains the 12800 resistance and if it will be able to withstand the advance of the minor trend.
PRICE AND TURNOVER
Close: 12527.26 * Change: -49.18 (-0.39%) * Volume: 555,817,280
MARKET BREADTH
Net Adv Issues: -1402 * Net New Highs: +20 * Net Up Volume: -1,954,925,125
TECHNICAL ANALYSIS
Undefined major trend * Interrupted secondary downtrend * Minor uptrend * Major support 11600-11700 * Minor support 12,200 * Resistance 12,800 * Double top on the weekly chart
No comments:
Post a Comment