Technical Analysis of Financial Markets
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2006
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July
(8)
- FedEx Corp. (FDX)
- Dow Jones – Double Bottom (almost complete)
- Starbucks Corp. (SBUX)
- Transocean, Inc. (RIG) – Bearish Head & Shoulders Top
- Union Pacific Corp. (UNP) - Bearish Breakdown ?
- Dow Jones - Narrowing Uptrend
- Google, Inc. (GOOG) - Symmetrical Triange ?
- InterDigital Communications Corp. (IDCC) - Bearish...
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July
(8)
Friday, July 28, 2006
Dow Jones – Double Bottom (almost complete)
The Double Bottom bullish reversal pattern the Dow has been forming is almost complete. A break and close above approx 11,250 will confirm the pattern at which point buyers enter. However, watch 11,300 marking a Fibonnaci level which has served as resistance before during late March. A possible turn back lower below the Confirmation Line after breaking above it may indicate a failed pattern.
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