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Thursday, August 23, 2007

Dow on 22/08/07



Currently it is below the 20MA. They need to break the 20MA and this will gain more confidence for everyone, then we will see more buyers coming into the market. If possible, if it breaks the 50MA, I do not think if FED don't cut the interests rate will affect the market to the lowest that we had got into recently, maybe down to 20MA or supported by 50MA. The next chart below is Nasdaq, which I had said in the earlier post that I had a feeling tonight will be a down time. Nasdaq shows a morning star, need confirmation for tonight, for the completion of the formation. Although all the indicators shows a positive uptrend, but looking just base on this formation, I am worried.



Next will be S&P500. This looks more to a uptrend. only nasdaq is the one I am worried.



Overall the vol is very light. almost half of what it was, before the correction. Therefore the uptrend is still weak. See is there any improvement end of this week and next week.

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Any request of counters you can post in the chatbox, I will do an analyse for u when I see the msg