OEX Trading Resources
... Free Stock Market Updates & Technical Analysis
 June 20, 2008
The OEX tested the suggested trendline before heading lower again and fell through key Fib. support. This increase the odds of the May high being correctly interpreted as a wave 2 or B corrective scenario.
More oscillations within this Falling Wedge looking pattern is not ruled out, until the market has reached the March low (583,64). But the key is to look for a clear, positive breakout from this wedge, (daily closing basis)
to get stronger evidence of a bottom in place.
Mid term, this updated weekly trend chart (Mode: Bearish) shows that the market has been through a classic snap-back move towards it's earlier broken MA's, before resuming it's overall bearish trend from the Oct. 2007 high.
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Jan. 06, 2008
The Stock Market Outlook 2008 Report is available through the latest issue of the Free Trader's Tips Email Newsletter. Use the sign-up form below, if you're not already a subscriber ( Example Issue ) and want the current and future issues of this newsletter delivered to your inbox. Sign up now, it's free! Earlier Market Updates, period Jan. 2006 - April 2007 Jan. 14, 2007
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