Stock Market Analysis

Monday, April 24, 2006

Daily Market Comments 24 Apr 06 by

A neutral day in the markets with DJIA closing down marginally by 0.10% and NASDAQ by 0.40%. The bulls and bears struggled for supremacy whole day long in this stock market tug of war which ended up with no clear results. More earning reports are coming out mid week and job data end of the week. These events will definitely be the catalyst to move the market in a definite direction.

Technically, DJIA looks like it is continuing its up trend by heading for its 30MA again hoping for another successful bounce and NASDAQ continued to establish its new neutral price channel centered around 2340. Overall, no surprises from the markets with short term pressure to downside.

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