Daily stock market timing update for 8/27/09 at approx 10:30 am Stock Market Time

Hourly Chart Analysis

The hourly stock market chart is continuing the weakness that started yesterday. Both the PSAR and the CCI indicators are negative so you should consider holding off on new long stock positions until this down trend on the hourly chart works itself out. These corrections on an hourly basis can work out to a strong move to the upside especially if the daily and weekly charts keep their bullish postures

Daily Chart Analysis

The daily market chart is showing signs of the top that was mentioned in yesterdays post. Although stock prices remain in a bullish mode on a daily basis we’ll wait for a turnaround on the hourly chart before putting on bullish positions.

Weekly Chart Analysis

So far this week the weekly stock chart is still bullish but showing signs of a top.

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