Stock Market Analysis

Tuesday, May 16, 2006

Daily Market Comments 17 May 06 by

A largely neutral day in the markets yesterday with DJIA closing down marginally by 0.08% and NASDAQ closing down by 0.42%. Markets are probably waiting for today's CPI numbers to set a definite tone to it.

Technically, we see DJIA bouncing off the 30MA nicely and formed a higher high and a higher low. This is definitely a bullish sign and we should see more upside. NASDAQ continued to wrestle for a handhold between 2220 and 2240. Chances are good for it to find a support level right about here.

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