Market Outlook (July 5th - 9th)

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Current Trend : Uptrend

Support 1 : 1303

Support 2 : 1295

Resistance 1 : 1317

Resistance 2 : 1335

Observation : The market is not really in a good shape and right now it is hanging just above the 1303 support level. This is due to the uncertainty of the Euro market and also rising concern in the US economy.

Should the market continue to plummet below 1300 psychological level, we may see another downtrend just like what happened in April and May. Since the stock is trending under the 20 day Moving Average (MA), investors and traders alike are advised to be very careful in entering trades. I personally will be taking a leave until mid-week. :)
Good luck to everybody!!

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