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 25, 2008

DJIA 6/24/09

PRICE AND TURNOVER
Note: To avoid redundancy, if the price and turnover data are reflected in the charts, they will no longer be repeated in the commentary.

MARKET BREADTH NYSE
Net Advancing Issues -1261
Net Up Volume -162M
Net New Highs -358

TRENDS
*PROVISIONAL PRIMARY DOWNTREND | Directional wave | Prior support 11634 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Prior Support 11731 | Resistance 13136
*SHORT TERM DOWNTREND | Directional wave | Prior Support 12076 - Broken | Resistance 12320 | TP 11800

TECHNICAL ANALYSIS
The index continues the current downswing of the short term downtrend. The indicators show no letup in the decline.

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