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).

Tuesday, May 6, 2008

DJIA 5/5/08 STOCK MARKET TECHNICAL ANALYSIS

PRICE AND TURNOVER
Close: 12,969.54
Change: -88.66 (-0.68%)
Volume: 560.3M

MARKET BREADTH
Net Advancing Issues: -435
Net New Highs: -9
Net Up Volume: -527,526,174

TECHNICAL ANALYSIS
Primary consolidation * Intermediate downtrend * Short term uptrend * Prior support 12300/11700 * Prior resistance 13800 * Intermediate trendline broken * The Dow is moving steadily within the rising price channel

NEWSWIRES
Reuters|Wall St falls on Countrywide fears, record oil|Mon May 5, 2008 4:28pm EDT
AP|Merck to cut 1,200 sales jobs|Mon May 5, 5:24 pm ET
AP|Wal-Mart expands low-price drug program|Mon May 5, 5:26 pm ET
AP|Oil passes $120, |Monday May 5, 3:36 pm ET


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