Ottawa Investment Advisor John Bruce

The Technical Report For August 17 to August 21 2009

August 25, 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 . .


  • Prices retreated from highs reached the previous week and spent all week slowly regaining lost ground to end just below where it had started on Monday. 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 started to enter over bought level (70+) which is used by bearish traders as a sell signal.

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

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