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Wealthbuilder Monthly Stock Market Portfolio Investment Note - August

Portfolio / US Stock Markets Aug 13, 2007 - 12:29 PM GMT

By: Christopher_Quigley

Portfolio

Overview
The bull market in the Dow is being tested. The technical breakdown currently is action was forewarned by the cluster of Hindenburg Omens which were noted in the market throughout July.


Though oversold, the market is technically weak, and therefore holds considerable risk. Investors should wait for the current shakeout to test new support before investing in new positions. Students of Dow Theory will remember that a trend is in place until price action confirms otherwise.

Dow: Bull Market Being Tested
S & P: Bull Market Commencing But Being Tested
NASDAQ: Bear Market Recovery Rally Being Tested

July's Report
Overall markets continue to work higher, despite the existence of Hindenburg Omen clusters. The nature of this indicator shows that the internal breathe of the market is weak. In the event that the current rally stalls there could be significant technical breakdown.

The risk in the market is high and ideally investors should wait until a pullback support level has been tested before adding significantly to new positions.

Dow: Bull Market Strong But Weakening
S & P: Bull Market Commencing And Untested
NASDAQ: Bear Market In Recovery Rally

 

By Christopher M. Quigley
http://www.wealthbuilder.ie

Mr. Quigley is 46 years of age and holds a Batchelor Degree in Management from Trinity College/College of Commerce, Dublin and is a graduate of the Marketing Institute of Ireland. He commenced investing in the Stock Market in San Francisco, California where he lived for 6 years. Now based in Dublin, Mr. Quigley actively trades utilising the principles set out in the modules above. This Wealthbuilder course has been developed over the last 9 years as a result of research, study, experience and successful application.

Christopher M. Quigley Archive

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