Daily Market Comments 3 May 06 by MastersoEquity.com
Markets ended in an up day yesterday. The great economic data are beginning to set in at last and the markets made a broad based advance. DJIA closed at into its 6 years high up 0.64% and NASDAQ closed up 0.22%.
Technically, the "rally" yesterday was more of a neutral continuation of both index's previous trends. DJIA continued to move sideways within its 11479, 11250 channel with inclination to upside and NASDAQ consolidated from the bottom of its neutral price channel. All in all no surprises yet but markets could be inclined to upside if strength prevails in the markets today.
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Technically, the "rally" yesterday was more of a neutral continuation of both index's previous trends. DJIA continued to move sideways within its 11479, 11250 channel with inclination to upside and NASDAQ consolidated from the bottom of its neutral price channel. All in all no surprises yet but markets could be inclined to upside if strength prevails in the markets today.
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posted by Jason Ng at 7:57 PM
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