Stock Market Analysis

Thursday, April 20, 2006

Daily Market Comments 21 Apr 06 by

DJIA continued its rally yesterday to close at its 6 years high! DJIA closed up 0.57% at 11,342.89. This stellar performance was put up despite oil prices hitting $74 a barrel yesterday. NASDAQ closed down marginally into a neutral day by 0.35%. This rally had a good follow through so far even though a consolidation now looks imminent.

Technically, although NASDAQ did not close higher, it formed a neutral day with a higher high and a higher low. This gave it an upwards bias that could continue if significant follow through is witnessed today. On the other hand, it is also at a good point to correct back down a little in order to form the second neutral channel that we talked about last week.

EXTRA : Do you know we were prepositioned with long positions before this rally begun? Yes! This is the predictive power of the Star Trading System! Check it out now!

Links to this post:

Create a Link

<< Home