Stock Market Analysis

Wednesday, April 26, 2006

Daily Market Comments 27 Apr 06 by

It was an up day in the US markets yesterday with a slew of great data and earnings release. DJIA regained 0.63% and NASDAQ regained 0.14%. The Bush speech calling on measures to curb oil prices have seen further impact on oil prices yesterday seeing USO down 1.56% retracing a full week of gains.

Technically, we see DJIA and NASDAQ moving sideways. NASDAQ continued to struggle at its key 30MA Support level and DJIA moved sideways with the slew of economic data, making higher highs and higher lows. Both index are still moving according to game plan and we should expect to see NASDAQ to upside pretty soon.

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