Stock Market Analysis

Sunday, April 08, 2007

The Dow's Steady Advance

The Dow has been secretly and quietly crawly upwards along a short term bullish channel even though volume remains very thin. A look at the weekly charts revealed that the Dow is climbing steadily along a rising 30MA with rising momentum. If the Dow makes yet another higher high and higher low this week, I would be convinced that the market is ready to come back. This is going to be a heavy weight week again with a couple of heavy weight releases including the Fed Release. (Please See Option Trader HQ For Weekly Market Calendar) The pressure on oil prices has also been alleviated with the release of the British sailors and that certainly puts another point of optimism to the market. As more and more good news comes into the market, so will more and more bullish participation and that is certainly what a good bull trend needs. Will we get these good news this week?

Technical Chart By Worden Brothers TC2007 Charting Software
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