Daily Market Comments 30 Mar 06
An Up day in the markets yesterday. This jump up yesterday was probably just a sentimental buy in after such a huge drop the day before. Does this mean that the markets are going into a rally again? Perhaps not.
Looking at the technicals, the rally did nothing to change its status quo. DJIA and SPY continue to linger at the 30MA support level and NASDAQ continues to trade within its price channel. Only if the markets continue to rally today strongly do they have the momentum to continue upwards.
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Looking at the technicals, the rally did nothing to change its status quo. DJIA and SPY continue to linger at the 30MA support level and NASDAQ continues to trade within its price channel. Only if the markets continue to rally today strongly do they have the momentum to continue upwards.
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posted by Jason Ng at 5:56 PM
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