Slow Day Caps Off Down Week for Stocks
By Alex • Jul 27th, 2008 • Category: Stock Market Analysis
Dow: 7-25-08
Not a whole lot of movement in the market on Friday. We finished up just over 20 points to end a week overall down.
Looking at the chart of the Dow, it looks as though we could have topped out after hitting the previous support level. I think that it is possible that the market is forming a double bottom but we have no way of knowing until we reach that point.
For now, I expect the market could fall back to previous lows and then we will see what kind of support we can hit. With oil continuing to fall, stocks might be setting up for a stronger rally next time. I haven’t found any new stocks to keep an eye on but I will be sure to let you guys know when I do!
Alex is wants to ask everyone to please check out my new blog at MySarcasticMind.com! Thank you!!
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I came across this blog the other day and you got some great info here - thanks.
You are very welcome! Come back and get some more when you can!