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, June 11, 2008

DJIA 6/10/08 STOCK MARKET TECHNICAL ANALYSIS

PRICE AND TURNOVER
Close 12,289.76
Change 9.44 (0.08%)
Volume 790.3M

MARKET BREADTH NYSE
Net Advancing Issues -1123
Net New High -162
Net Up Volume -653,986,429

TRENDS
*PROVISIONAL PRIMARY DOWNTREND | Directional wave | Prior support 11634 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Corrective wave | Prior Support 11731 | Resistance 13136
*SHORT TERM PROVISIONAL DOWNTREND | Directional wave | Prior support 12338 - Broken | Resistance 12726

CHART WATCH
The index is trending down in all time frames. The next area of interest is where the Dow will find resistance in the minor trend. Another lower high will validate the short term down trend.

STOCK MARKET, ECONOMY & OTHER HEADLINES
AP|Wall Street ends mostly lower on economic worries|Tuesday June 10, 5:45 pm ET
AP|Oil falls on strong dollar, demand forecasts|Tuesday June 10, 4:12 pm ET

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