Home Featured Articles Market News US Market Weekly Outlook July 28, 2008
US Market Weekly Outlook July 28, 2008 Print E-mail
Written by David Hanson   
Sunday, 27 July 2008 07:17

Bulls pushes to higher grounds as DJIA broke 11,500 and 11,650 in succession during the first half of the week.  However, Thursday's spooky down turn remains to be a question mark as to where this will really leads us to.

 

DJIA seeks new support levels above 10,732.  Based on the down trend line, Bulls should come in aggressively at 11,000 to 11,100 level.  They will have to be more aggressive not to waste efforts in breaking previous resistance levels. 

 

DJIA Outlook:

Short-Term : Sideways to Up

Medium-Term : Down

Long-Term : Down

 

We finally see Bulls taking over the situation in NASDAQ as it successfully break the down trend line.  Key support level is set at about 2,240, 2,202 and 2,167.

 

NASDAQ Outlook:

Short-Term : Sideways to Up

Medium-Term : Sideways

Long-Term : Sideways with Upward Bias

 

After reaching just a few inches away from resistance, S&P500 drops together with DJIA last Thursday.  High volatility caused it to break support levels in just 1 day.  Bulls face a tougher challenge for S&P 500 to climb.

 

S&P500 Outlook:

Short-Term :  Sideways

Medium-Term : Down

Long-Term : Down

 
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