TECHNICAL ANALYSIS
The Dow closes lower by 0.94% on Friday, down 2.38% WTD and -3.91% YTD. The short term uptrend is correcting after finding resistance May-2. The Dow theory assumes that the index will continue to move in the direction of the uptrend until contrary evidence presents itself. Expect the stock average to find support at or near the short term trendline. Consider this the next critical level to keep an eye on.
MULTIPLE TIME FRAME ANALYSIS
* MAJOR CONSOLIDATION | Prior Support 11634 | Prior Resistance 14198 * INTERMEDIATE DOWNTREND | Prior Support 11634 | Prior Resistance 13780/13182 | Recently broken trendline * SHORT TERM UPTREND | Prior Support 12250 | Potential Support (Fibo) 12600-12700 | Prior Resistance 13132 | Price objective: Trendline Support
PRICE AND TURNOVER
Close: 12,745.88 EOD | 13,058.20 EOPW | 12,820.13 EOPM | 13,264.82 EOPY
Change: -120.9 TODAY | -312.32 WTD | -74.25 MTD | -518.94 YTD
Change%: - 0.94% TODAY | -2.39% WTD | -0.60% MTD | -3.91% YTD
Volume: 624.3M
MARKET BREADTH
Net Advancing Issues: -344 * Net New Highs: -3 * Net Up Volume: -954,459,685
MARKET SUMMARY, EARNINGS REPORT, ECONOMIC DATA
AP|Stocks decline as AIG reveals need for cash, oil surges|Fri May 9, 5:48 pm ET
AP|Gas jumps above $3.67, oil passes $126 on Venezuela concerns|Fri May 9,4:20 pm ET
AP|March trade deficit drops by bigger-than-expected amount|Friday May 9, 5:23 pm ET
Next week's earnings calendar
Next week's economic calendar
The Dow closes lower by 0.94% on Friday, down 2.38% WTD and -3.91% YTD. The short term uptrend is correcting after finding resistance May-2. The Dow theory assumes that the index will continue to move in the direction of the uptrend until contrary evidence presents itself. Expect the stock average to find support at or near the short term trendline. Consider this the next critical level to keep an eye on.
MULTIPLE TIME FRAME ANALYSIS
* MAJOR CONSOLIDATION | Prior Support 11634 | Prior Resistance 14198 * INTERMEDIATE DOWNTREND | Prior Support 11634 | Prior Resistance 13780/13182 | Recently broken trendline * SHORT TERM UPTREND | Prior Support 12250 | Potential Support (Fibo) 12600-12700 | Prior Resistance 13132 | Price objective: Trendline Support
PRICE AND TURNOVER
Close: 12,745.88 EOD | 13,058.20 EOPW | 12,820.13 EOPM | 13,264.82 EOPY
Change: -120.9 TODAY | -312.32 WTD | -74.25 MTD | -518.94 YTD
Change%: - 0.94% TODAY | -2.39% WTD | -0.60% MTD | -3.91% YTD
Volume: 624.3M
MARKET BREADTH
Net Advancing Issues: -344 * Net New Highs: -3 * Net Up Volume: -954,459,685
MARKET SUMMARY, EARNINGS REPORT, ECONOMIC DATA
AP|Stocks decline as AIG reveals need for cash, oil surges|Fri May 9, 5:48 pm ET
AP|Gas jumps above $3.67, oil passes $126 on Venezuela concerns|Fri May 9,4:20 pm ET
AP|March trade deficit drops by bigger-than-expected amount|Friday May 9, 5:23 pm ET
Next week's earnings calendar
Next week's economic calendar
No comments:
Post a Comment