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).

Saturday, August 30, 2008

DJIA 8/29/08 WEEKLY MARKET REVIEW


PRICE AND TURNOVER
Close 11,543.55 
Change -171.63 -1.47%
Volume 542.5M

MARKET BREADTH NYSE
Net Advancing Issues -886
Net New Highs -26
Net Up Volume -1,435,820,682

TRENDS
*PRIMARY DOWNTREND | Corrective wave | Prior support 10827 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Corrective wave | Prior support 10827 | Prior resistance 13136
*SHORT TERM UPTREND | Broken trendline |Corrective wave | Prior support 11125 | Prior resistance 11867

CHART WATCH
The primary and intermediate trends continue to decline. For now, the current minor uptrend is considered part of a technical correction of the larger trends.

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