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Sunday, February 19, 2006 

Dowjones with new Year High

Chart courtesy of stockcharts


Dear Visitor,

Please accept my apologies for the missing update information in the Blog during last week, but unfortunately I had some problems with my network.

Well, about the markets on Friday:

U.S. stocks closed lower on friday after inflation data confirmed that interest rates have further to rise, disappointing investors who had hoped for an imminent end to U.S. rate hikes.
The producer price index rose 0.3% in January and the core producer prices, which exclude volatile food and energy costs, rose 0.4%, the biggest gain in a year, the Labor Department reported also the U.S. consumer sentiment eased in early February as gasoline prices rose.

Dowjones during last week advanced 1.8% and it touched on Friday in a new year high at 11131.95.
According to chart above we can see that we are near of the top of the medium trend line and we can have during next week some retracement until 11.000 level, that is the support of the short term. The technical Indicators RSI and Full sto are showing very good Bullish conditions.

Have a great weekend.

AC


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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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