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Wednesday, February 08, 2006 

Good trading day for Bulls

Chart courtesy of stockcharts

Strong earnings from PepsiCo Inc. and Cisco and also a rally in Pfizer Inc shares on a possible disposal of its consumer products unit contributed to a triple-digit gain on the Dow Jones, pushes the stocks up today. The Dow Jones industrial average surging 109 points, and close above MM50. We need to Up one more day with good volume to see a change in the sentiment.
Volume was 1.79 billion shares on Nyse and 2.2 billion shares on the Nasdaq.
According to chart above we can now run until the red line ( downtrend resistance ).

That's all for me. Have a great evening.

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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