Ottawa Investment Advisor John Bruce

Technical Analysis Report for week of June 19

June 19, 2009 · Print This Article

DJIA

  • Ended the week lower then previous week and closed below 14 day and 21 day moving averages. Price action is turning negative and there is now a need to hold the 50 week moving average or face a possible test of previous lows. Long-term trend still negative, short-term trend becomeing negative.

TSX

  • A choppy ride with a more negative tone as the 50 day moving average has become the next level of support . The up trend has gone from neutral to negative, short- term trend moving lower. Decreasing Energies , Financials and Precious Metals are pulling down on the chart , and seems to be picking up momentum – Relative Strength Index (RSI) has started to drop into neutral territory but has not entered over sold (30-) which leaves room for more selling without becoming over sold.

*To find out how Technical Analysis can be used in your portfolio, call John Bruce 866-860-4190.

John S. Bruce
Investment Advisor
Mackie Research Capital
Direct Line- 613-425-3732
Toll Free- 866-860-4190

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