Market Review – Week ending 6/19/09
By James | June 21, 2009
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The overall market pulled back this week which was to be expected buying generic propecia after this massive run upward. The Dow closed the week down almost 260 points.
Not too much damage was done other than the fact that we broke down out of the previous trading range(top blue box) and closed below the 21-day moving average. See the daily chart above.
The weekly chart looks surprisingly healthy. buy cialis internet See below:
An orderly pullback to the MA?
This weekly chart shows a nice orderly pullback to the 8-week moving average(orange line). Next week may see more of a pullback. However, as long as the Dow can stay above the 20-week moving average support(white line) at this is still just healthy pullback on the weekly chart.
This week watch for 8,352 to hold as support if the market continues to Generic kamagra jelly Levitra Online Pharmacy pullback. The chart will remain positive as long as that level holds.
As always, vaginal cytotec be careful out there.
Topics: Charts, Market Review, simple market timing | 3 Comments »
June 24th, 2009 at 5:30 am
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June 24th, 2009 at 1:30 am
Pretty nice post. I just came by your blog and wanted to say
that I’ve really enjoyed reading your blog posts. In any case
I’ll be subscribing to your blog and I hope you write again soon!
June 27th, 2009 at 12:47 pm
[...] Last week, I mentioned that Dow had to hold 8,352 level for the chart to remain bullish. The market did indeed test that level this past week. In fact, it pulled back to 8,259 before bouncing to close above support at 8,438. It was still a down week but the chart remains healthy since the support level held. [...]