The recent rally in the DJIA hit a peak of 11,698 just 2 points shy of the 200 week moving average at 11,700 and has subsequently lost 350 points in 2 days. We will quickly re-test the 10,700-10,800 support area enroute to a move that may well take us to 9,000
The S&P 500 has fallen [...]
Tags: stock market
Dow: Last week’s close meant that a bullish weekly reversal was posted, however we would highlight the following
Other Indices did not post a bullish weekly pattern
The Nasdaq actually closed down on the week
There is significant resistance on the Dow between 11,634 and 11,750, which was the Jan 2000 high. The 200 wma also comes within [...]
Tags: stock market
We have seen the difficult periods of 1980-1982 (most severe economic period since the great depression mainly caused by a collapse in housing); 1990-1991 (recession caused by housing); 2001 (Slowdown caused by the equity market) and 2007-2008 (Hosing and credit crisis). In addition we have see a difficult credit period in 1998 (LTCM, Russia etc) and a [...]
Tags: stock market