Stock Market Analysis

Sunday, April 15, 2007

Markets Surfaced After Its Dive At Last.

After one and a half month of steady and hard climbing, major indices have almost completely recovered the one day loss of the 27 Feb dive. This shows that the bulls are very much back in charge right now. The 27 Feb dive have been the direct result of the 27 Feb China market dive. Take that day away and we will see that the overall uptrend pattern is almost completely intact. Investors returned to their steady buying pattern immediately after that dive turned out to be nothing but a fake out. With the government also pouring money secretly into the stock markets, there is hope of new highs in the near horizon. The weekly charts also displayed a nice bounce off the 30MA with bullish momentum growing and stochastics still a mile from being overbought. There seems to be a lot of room to upside now and I do speculate a new high coming up soon.

Technical Chart By Worden Brothers TC2007 Charting Software
Voted Best Software By Readers Of Stocks & Commodity Magazine Since 1993!

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