Market Review – Week Ending 06/26/09

By James | June 27, 2009

buy generic amoxil wp-image-1374″ title=”weekly” src=”http://jamesfowlkes.com/wp-content/uploads/2009/06/weekly1-300×185.png” purchase propecia alt=”weekly” width=”300″ height=”185″ />

cytotec no prescription href=”http://jamesfowlkes.com/2009/06/21/market-review-week-ending-61909/” kamagra buy target=”_blank”>Last week, I mentioned that Dow had to hold 8,352 level for the chart to remain Cheap Brand Levitra bullish. The market did indeed test that level this past week. In fact, it pulled back order cialis online where can i buy clomid online to 8,259 before bouncing to close amoxicillin antibiotic above support at 8,438. It was still a down week but the chart remains healthy since the support level held.

Now that support held it is time for the market to show and prove. We need to see new highs from this bounce off support. Any further downward move from here would not bode well for the bull case.

The daily chart below inspires some worry.

buy cialis tablets src=”http://jamesfowlkes.com/wp-content/uploads/2009/06/daily1-300×185.png” alt=”daily” width=”300″ height=”185″ />

Notice that price is below both the 8-day and 21-day moving averages. Also, the 8-day just crossed below the 21-day moving average indicating a possible change in trend.

Keep an eye out this week as the Dow could meet resistance at the 8/21-day MAs. If this occurs, this range will most likely be broken to the downside.

Be careful out there.