Stock Market Analysis

Wednesday, April 12, 2006

Daily Market Comments 13 Apr 06 by

Another neutral day at the markets yesterday. DJIA was up 0.36% and NASDAQ was up 0.19%. This was the accumulation that we expected yesterday which played out without any surprises. Such accumulation is completely expected after the big drop the day before.

Technically, DJIA is still struggling about its 30MA even though it has been breached 2 days ago. An up day tomorrow will certainly bring it back up on the 30MA for more potential upside. NASDAQ corrected back down into its neutral price channel. Only one question remains, will it continue back down into its old channel centered around 2,280 pts or it will bounce off its 30MA right now and establish a new channel centered around 2,340 pts.

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