Stock Market Analysis

Monday, April 17, 2006

Daily Market Comments 18 Apr 06 by

Crude oil closes above $70 at last due to growing fears tied to Iran's nuclear ambitions. This put a tremendous amount of pressure on the market and brought DJIA down 0.57% and NASDAQ down 0.64%.

Technically, DJIA continued to struggle around its 30MA with pressure to downside. NASDAQ fell back down to support at its 30MA too. Overall the sentiments are bearish in the markets but a slight rebound may follow with yesterday's drop.

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