Stock Market Analysis

Thursday, April 20, 2006

Daily Market Comments 21 Apr 06 by MastersoEquity.com

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!

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