At the beginning of every week I will take a look at the broad market as a whole and discuss what important updates will be happening in the week and if any significant reports/earnings will be coming out.

Then everyday I will try to find a new stock that I feel is poised for a big next couple of days and set price targets, stops, etc.

Tuesday, March 25, 2008

Brief post on the state of the stockmarket in general

From a basic chart of the last 3 years we can see that there is support for the Dow Jones at 11,750. Currently using a daily chart we can see that over the past week the Dow has rebounded from this support at 11,750 . Over the past week the market has made a substantial run up with yesterday forming a doji (a neutral indicator) and the day before that an inverted hammer (which in an uptrend generally spots a top).
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