Ottawa Investment Advisor John Bruce

Technical Analysis Report for week ending July 31

August 4, 2009 · Print This Article


  • Ended the week higher than the previous week and closed well above 7, 14 , 21 , and 50 day moving averages. Prices have been rising steadily and have gone back to September 2008 levels . Long-term trend is turning back up and starting to become more positive, however, the ( RSI) is moving up and out of Neutral territory and is starting to enter over bought territory (70+) which is used by bearish traders as a sell signal.


  • Another strong week and managed to break above resistance set in June at 10726 to close above back at levels not seen since the October sell off . The last two weeks have ended strongly above the 50 week moving average. Long term trend has gone from neutral to positive , short- term trend continuing higher. – 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

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