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| Date: Friday 05th 2008f September 2008 05:37:10 PM |
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Market Analysis 03/07/2005 |
| By: Novice Investing Staff |
| The Dow Jones Industrial Average breaks out of important resistance this past week. After a moderate profit taking in the early part of 2005, the major indices has rebounded nicely. NASDAQ still lacks behind the other indices and it needs to break out of its 50 day moving average before moving to the high of 2175 reached on December of 2004. |
| As I have said before, I remain bullish with the major indices. I said here and I still expect the DJIA to reach 12,000 level, Nasdaq Composite to reach 2250 level and S&P 500 to reach 1300 level. Of course, the future is uncertain but at this point of time, the direction is pretty clear. Please use support as a buying point and do not chase overextended equities. |
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