Sunday, June 14, 2009

Simple Technical Analysis

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Just a short post.

My longer-term technical analysis show the bullish market.  Over the short-term (see chart below) some Bullish dominance as well.

Three factors that I consider worth attention: a) volatility is down to the Nay 2008 level; b) volume on the Dow Jones Industrials and the S&P 500 indexes is down; c) S&P 500 and DJI are at the January 6, 2009 high levels which are considered by many traders as resistance lines from which we could have bounce down. I'll try to provide more details on these three factors in my next post.

S&P 500 chart

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