July 8, 2010

Dow jones end of day analysis

DAILY CHART
WEEKLY CHART
  • The channel in daily chart is broken decisively.
  • It is now trading above the 10 day moving average and the current momentum should take it pass the 20 DMA. 
  • So if the week trades successfully above 10000 the real test for the bulls will be at around 10200 that's were the 50 WEEK moving average is standing now. 
  • And there is a down trend line i have drawn in the weekly chart so crossing there two points will be quite an achievement by the bulls.
  • S&P 500 analysis after closing bell

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