PeakTrader.com Forum Index PeakTrader.com
Economics, Portfolio Optimization, and Technical Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 
Log inFast Charts

Oversold IWM

 
Post new topic   Reply to topic     PeakTrader.com Forum Index -> Market Forecast
View previous topic :: View next topic  
Author Message
administrator
Site Admin


Joined: 28 Dec 2005
Posts: 10286

PostPosted: Sun Jul 29, 2007 8:44 am    Post subject: Oversold IWM Reply with quote

The three charts below reflect that the stock market is short-term oversold and may rise next week into the new month. However, after the first week in August, the stock market may fall lower before rising again. IWM (small cap ETF) is more oversold than other major ETFs. For example, DIA SPY and QQQQ remain above their 200-day MAs, while IWM is well below its 200-day MA. Consequently, IWM may bounce two or more points early next week and may be a better buy on pullbacks over the next week or two. However, a test of the March low at 75.15 may take place, which is slightly more than a 50% retracement from the July 2006 low (i.e. 65.86) and the July 2007 high (i.e. 85.20).





Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic     PeakTrader.com Forum Index -> Market Forecast All times are GMT - 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by PeakTrader 2.0.8 © 2001, 2002