Ottawa Investment Advisor John Bruce

Technical Analysis Report week ending July 3, 2009

July 6, 2009 · Print This Article

DJIA

  • Ended a short week of trading sitting on the lows of the previous previous week and closed below 14 day and 21 day moving averages. It also remained below the 200 day and the 50 day moving average. Price action has turned negative and now that the 50 day moving average has been broken , the near term is clearly negative. Relative Strength Index (RSI) is weakening but still has a fair distance it can fall without becoming over sold.

TSX

  • The previous week’s reversal weakened and prices drifted lower all week. The 50 day moving average held out and was not penetrated and has become the next level of support . The up trend has gone from positive to negative , short- term trend moving lower. Relative Strength Index (RSI) has started to weaken but is still in neutral territory.

*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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