The Week Wrap-up: Egypt –11%, Dubai –7.7%, Abu Dhabi –5.9%

you can return to the prior week commentary in this post

The 26th week of 2009

was bloody week for the Middle East stocks, for Egypt there were no blue chips or penny stocks, all of them slumped hard, the worst sector was the food, Real Estates

if you remember the last post we’ve 2 points 5,500 and 4,800

the market closed Thursday session under 5500 without any problem, we have setup here if this proved as false breakout, if not we are waiting at 4,800

until now there is no intention to buy, the market confirmed Sell signal on all our setups

those are the daily and the weekly picture for the main index, click to enlarge

and the following are the sector performance

and for UAE markets and others