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, September 6, 2008

DJIA 9/5/08 WEEKLY MARKET REVIEW


MARKET BREADTH NYSE
Net Advancing Issues 13
Net New Highs -282
Net Up Volume 1,334,550,661

TRENDS
*PRIMARY DOWNTREND | Directional wave | Prior support 10827 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Prior support 10827 | Prior resistance 11867
*PROVISIONAL SHORT TERM DOWNTREND | Directional wave | Prior support 11290-Broken | Prior resistance 11790

CHART WATCH
The short term trend aligns itself to the 2 larger declining trends. All 3 timeframes are now trending down.

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