Stock Market Analysis

Sunday, April 30, 2006

Daily Market Comments 1 May 06 by

Markets were down last Friday. DJIA was down marginally by 0.14% and NASDAQ was down significantly by 0.95%. Markets dropped after realising that a pause in interest rate hikes do not mean a stop to interest rate hikes. However, DJIA is down so marginally that I doubt it has a lot to do with what Elder Green said.

Technically, we see NASDAQ down 0.95% in response to the surge on Thursday. This is a normal consolidation move after such a grand surge that it barely hold any surprises. NASDAQ continued back down to its 50MA where it was to continue its game plan. DJIA ended in a neutral day that made no difference to its immediate sideways direction. We will need a lot more market stimulus to move a market this heavy.

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