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Saturday, June 03, 2006 

Looking forward !!! Dow, Crude , LVLT

Chart courtesy of stockcharts

The Dow Jones industrial average dropped 12.41 to 11,247.87 on friday session, for the week the Dow lost 0.27 percent. According to chart above we can see that the LT support becomes now in a resistance, the sentiment changed.
The lastest reported released by the Labor Departement on Friday shows that the Job growth faltered in May, with employers boosting payrolls by just 75.000, was the smallest since October. This Job report was much weaker than the 170.000 jobs that economists were forecasting. Also on Thursday was reported that the Manufacturing activity and the consumer confidence lost a bit of momentum, so in conclusion we start to see some indications of a slowdown in the economy and we're probably going to see more volatility in this market.


Chart courtesy of stockcharts

Oil prices jumped by almost $2 a barrel Friday closing at $72,33, after it was reported that eight foreigners working on a drilling rig off the coast of Nigeria had been kidnapped. The crude Oil breakout on Friday the channel formed since the start of May as show the last white candle of the daily chart above.


Chart courtesy of stockcharts

LVLT closed on Friday below the MM50 falling 2.52% with a considerable volume. During this week the stock showed weakness to move up and the volume increased when the stock moves down as we can see in the chart above.
Main support : 4.75 Main resistance : 5.04

That's All. Have a great weekend and a good business week !!!

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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