Saturday, July 16, 2005

Stock market technical analysis

My favorite technical analyst says
The S&P 500 closed at a new 3-year high on Friday, signaling that the primary up-trend has resumed. This could still be a marginal break, however, with the tall shadow and strong volume at [4] signaling resistance. A rise above the high of [4] would dispel this. …

The most likely scenario is that the Dow continues to range between 10000 and 11000 for some time.
Note how the Google ads generated by this entry crowded out all the others. I guess the investment people bid a lot to get their ads placed.

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