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).

Wednesday, May 28, 2008

DJIA 5/27/08 STOCK MARKET TECHNICAL ANALYSIS

PRICE AND TURNOVER
Close 12,548.35
Change 68.72 (0.55%)
Volume 627.2M

MARKET BREADTH
Net Advancing Issues +806
Net New High -42
Net Up Volume 638,846,873

TRENDS
*PRIMARY UPTREND | Corrective wave | Prior support 11634 | Prior resistance 14030
*INTERMEDIATE DOWNTREND | Corrective wave | Support 11634 | Resistance 13136
*SHORT TERM UPTREND | Broken trendline and support | Corrective wave | Next support level 12269 | Resistance 13136

CHART WATCH
The near term occurrence of any of the following events should be considered significant technical signals: (1) a break below 12269, (2) a break above 13136, (3) the next reaction high

STOCK MARKET, ECONOMY & OTHER HEADLINES
AP|Stocks higher after home sales data, lower oil|Tue May 27, 6:31 pm ET
AP|Oil drops below $129 a barrel on demand concerns|Tue May 27, 3:14 pm ET
AP|New reports give bleak outlook on housing, economy|Tue May 27, 5:06 pm ET

No comments:

Post a Comment