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, July 9, 2008

DJIA 7/8/08

MARKET BREADTH NYSE
Net Advancing Issues 1,159
Net New Highs -445
Net Up Volume -1,512,410,932

TRENDS
*PRIMARY PROVISIONAL DOWNTREND | Directional wave | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Resistance 13136
*SHORT TERM DOWNTREND | Directional wave | Resistance 12320

TECHNICAL ANALYSIS
The index continues to compress within a 200pt range attempting to build a base for a potential correction rally. Meanwhile, all important trends are down.

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