OUTLOOK
The Dow gets a modest lift of +60.41(0.49%) on choppy trading [AP|Stocks rise in erratic trading|Tuesday April 15, 3:22 pm ET] as the market issues mixed reactions to Wall Street deals and earnings announcements [AP|J&J profit jumps 40 pct|Tuesday April 15, 2:41 pm ET], [Energy, banks boost Wall Street|Tue Apr 15, 2008 2:29pm EDT], [AP|Delta, Northwest deal fails to thrill investors|Tuesday April 15, 12:39 pm ET]. Investors also get an inflation warning from the Fed dimming the chances of further rate cuts [Inflation Is Becoming a Big Problem, Fed|AP | 15 Apr 2008 | 11:05 AM ET]. After a 9-day downswing, we get a One Day Reversal (ODR) signal. An ODR alerts us to a possible swing reversal. In this case, a higher accompanying turnover wouldve been more encouraging. But let's wait for a next day confirmation anyway. The index is on its 3rd day below the broken uptrendline favoring the change in the short term trend notwithstanding today's ODR alert.
PRICE AND TURNOVER
Close: 12,362.47 * Change: +60.41 (0.49%) * Volume: 579,939,392
MARKET BREADTH
Net Adv Issues: +602 * Net New Highs: -25 * Net Up Volume: +926,683,256
TECHNICAL ANALYSIS
Major consolidation * Intermediate consolidation * Short term uptrend * Support 11,700 * Resistance 12,800 * One Day Reversal (ODR) alert
The Dow gets a modest lift of +60.41(0.49%) on choppy trading [AP|Stocks rise in erratic trading|Tuesday April 15, 3:22 pm ET] as the market issues mixed reactions to Wall Street deals and earnings announcements [AP|J&J profit jumps 40 pct|Tuesday April 15, 2:41 pm ET], [Energy, banks boost Wall Street|Tue Apr 15, 2008 2:29pm EDT], [AP|Delta, Northwest deal fails to thrill investors|Tuesday April 15, 12:39 pm ET]. Investors also get an inflation warning from the Fed dimming the chances of further rate cuts [Inflation Is Becoming a Big Problem, Fed|AP | 15 Apr 2008 | 11:05 AM ET]. After a 9-day downswing, we get a One Day Reversal (ODR) signal. An ODR alerts us to a possible swing reversal. In this case, a higher accompanying turnover wouldve been more encouraging. But let's wait for a next day confirmation anyway. The index is on its 3rd day below the broken uptrendline favoring the change in the short term trend notwithstanding today's ODR alert.
PRICE AND TURNOVER
Close: 12,362.47 * Change: +60.41 (0.49%) * Volume: 579,939,392
MARKET BREADTH
Net Adv Issues: +602 * Net New Highs: -25 * Net Up Volume: +926,683,256
TECHNICAL ANALYSIS
Major consolidation * Intermediate consolidation * Short term uptrend * Support 11,700 * Resistance 12,800 * One Day Reversal (ODR) alert
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