July 8, 2007

The Weekly Report for July 9th - July 13th, 2007

1) MARKET SUMMARY
2) INDEX CHARTS (DJIA, S&P, NASDAQ and RUSSELL)

Market Summary
Despite the mid-week holiday, the bulls managed to rally together and send the major indexes back toward their respective May highs. Friday's stronger-than-expected employment numbers helped fuel the move and it will be interesting to see how the markets respond once the trading activity returns to normal. One chart of specific interest this week is of the Nasdaq because the bulls pushed the index above the resistance of a short-term ascending channel. Technical traders will keep a close eye on this index to see whether this break is a sign of a resumption of the longer-term uptrend.

Index Charts

Dow Jones Industrial Average

S&P 500


Nasdaq 100

Russell 2000 Index

Have a Great Week!

Editor, ChartAdvisor.com

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