UAE markets continue to advance, while upside momentum slows | GulfNews.com:
"The Dubai Financial Market General Index (DFMGI) gained 37.58 or 0.90 per cent last week to close at 4,220.45, with the index once again ending the week at a new high for the trend. Volume was muted however, dipping to an eleven-week low. And market breadth was weak with only 13 advancing issues versus 25 declining. For 2014 the index is up 25.24 per cent.
In addition to the weak volume and low bullish participation among individual issues there are several other signs in the price action pointing to a slowdown in upward momentum. Once that happens the odds for a consolidation phase or retracemet increases.
The definition of an uptrend is a series of higher highs and higher lows. In this case referring to the high and low of the weekly range. There was a change in the price pattern for both the high and the low last week, providing additional signs for caution."
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