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, May 16, 2008

DJIA 5/15/08 STOCK MARKET TECHNICAL ANALYSIS

The Dow trades higher for 2 successive days signalling an end to the corrective wave and the probable resumption of the directional mode within the advancing minor trend.

=== PRICE AND TURNOVER ===
Close: 12,992.66
Change: +94.28 (0.73%)
Volume: 638.8M

=== MARKET BREADTH ===
Net Advancing Issues: +1398
Net New Highs: +35
Net Up Volume: +2,150,741,004

=== TECHNICAL ANALYSIS ===
MAJOR CONSOLIDATION * INTERMEDIATE DOWNTREND * MINOR UPTREND : Directional wave | Prior support 12715 | Prior resistance 13132 | Price objective: 13132 |

=== MARKET SUMMARY, EARNINGS REPORTS & ECONOMIC DATA ===
Stocks Rally to the Finish Line; Techs Lead|CNBC.com|15 May 2008 | 04:38 PM ET
US Economy Is Still Weak But Not As Bad As Feared|CNBC.com | 15 May 2008 | 11:29 AM ET
Home builder sentiment nears record low in May|Reuters| May 15, 2:11 pm ET
Oil Prices End Down at $124.12|Reuters | 15 May 2008 | 05:21 PM ET

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