Stock Market Analysis

Tuesday, April 11, 2006

Daily Market Comments 12 Apr 06 by MastersoEquity.com

The markets went into broad based consolidation today with DJIA going down 0.46% and NASDAQ going down 0.98% on rising concerns on Iranian nuclear ambitions. There simply aren't very much positive factors to move the market to upside lately and with oil prices and fed rates giving pressure in the background, such a consolidation may not be surprising.

Technically, DJIA failed its struggle at its 30MA at last to close below it giving up any chance of a sustained rally. NASDAQ continued its game plan of correcting back down into its neutral price channel as we have expected it to. Markets are expected to accumulate for a while after such a big drop yesterday before it can decide where to go to in the near term.


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