October 31, 2008 Weekly Recap

The weekly DJIA graph shows that the markets may be oversold. The MACD is starting to narrow, as well as the stochastic is turning upward from an oversold condition. The other item is that the 20 week low also occurred at the first of October. The markets may be starting into a trading range.
The S&P 500 is very similar to the DJIA.


The Nasdaq shows oversold in the Stochastics, and the narrowing of the MACD shows we may be starting to change direction of the markets. The only problem is the low was only obtained less than two weeks ago.



The Russell 2000 hit its low this week, but by the end of the week it close above the open from last week.

Here is the weekly assessment of the trends.

	Monthly	Weekly
DJIA	Down	Flat
S&P 500	Down	Flat
Nasdaq	Down	Flat
Russell 2000	Down	Flat