The Week That Was: 10/19-23/2009
October 24th, 2009 | 
Author: The DOW is currently In a box between 9917 and 10118. The RSI, Stochastics and the MACD are pointing down. Volume has been unremarkable. We are at the top end of the Bollinger Bands as well as the broadening trend line channel. The market appears to be very indecisive. I will just wait and follow where it wants to go. We are at significant resistance from 1999- 2001 and 2004 and 2005.
The SPX is a carbon copy of the DOW. Long term resistance resides at current levels from 2001 and 2004 and 2005.
The COMPQ is at the top end of the Bollinger Bands about mid channel and very indecisive on average volume.
I feel that the markets will continue to edge higher through the end of the year and through January. It’s time to join MarketTamer and learn to make money in the Stock Market. Click here!
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