Ottawa Investment Advisor John Bruce

Technical Analysis Report for week of May 29

June 3, 2009 · Print This Article

Technical Analysis Report for week ending May 29 , 2009

DJIA

  • Ended the week higher then previous week and closed above 14 day and 21 day moving averages. Price action is stalling and needs to hold the levels achieved or face a possible test of previous lows. Long-term trend still negative, short-term trend flatting.

TSX

  • Another strong week and maintained it’s close above 200 day moving average and has consolidated above it. Long term trend has gone from negative to neutral, short- term trend moving higher. Increasing Energies , Financials and P recious M etals are helping to strengthen the upward movement , back to levels not seen since the October declines gained momentum. – Relative Strength Index (RSI) has started to rise from neutral territory but has not entered over bought level (70+) which is used by bearish traders as a sell signal .

*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

The opinions, estimates and projections contained herein are those of the author as of the date hereof and are subject to change without notice and may not reflect those of Mackie Research Capital Corporation (“MRCC”). The information and opinions contained herein have been compiled and derived from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. Neither the author nor MRCC accepts liability whatsoever for any loss arising from any use of this report or its contents. Information may be available to MRCC which is not reflected herein. This report is not to be construed as an offer to sell or a solicitation for an offer to buy any securities. Member-Canadian Investor Protection Fund / member-fonds canadien de protection des épargnants.

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