July 9, 2007 Market Recap

The Dow Jones Industrials Average is still in the consolidation zone. It appeared to want to break out but was promptly pushed back down so the Dow only had a slight gain today. A look at the volume shows there is not a lot of support to drive the price farther up. The stochs actually crossed over today as well.
The S&P is very similar to the Dow. Still in the consolidation zone. Stochs are overbought and the gains recently have been on lower than average volume. Still expecting a turn back down.

The Nasdaq is showing the same effects as the other markets. Not much else to say.



The Russell 2000 did the same thing. It wouldn't surprise me if the Russell touched 855 and then drop back down to around 840 and then head up to 875.

I was going to add a possible swing trade but did not get any good signals to buy ones that were going up. This would be a good time to short some stocks. Since I do not have an account that I trade that allows me to short stocks I did not pick any graphs for this.