Weekend Stock market Analysis for June 17th

After nearly six weeks of selling we finally got a decent bounce this week which began on Wednesday as the market had become very oversold. A longer term weekly chart of the Dow shows that at least in the near term it has found support at its 50% Retracement Level (calculated from the October 2004 low to the May 2006 high) near 10700. Now the question is can the Dow follow through to the upside over the next few weeks or will this latest bounce from oversold conditions fizzle out and eventually lead to more selling pressure.

To read our complete market analysis for this week click on the link below.

http://www.amateur-investor.net/Weekend_Market_Analysis_June_17_06.htm