Stock Market Analysis

Thursday, May 04, 2006

Daily Market Comments 5 May 06 by

Oil prices continues to fall by over $2 yesterday, combined with a greater than expected labor numbers resulted in a broadbased rally in the markets. DJIA was up again by 0.34% and NASDAQ was up decisively at last by 0.87%.

Technically, Both indexes behaved in a somewhat predictable fashion. DJIA closed within the intraday range of 2 days ago with a higher high and higher low. Although a neutral day for DJIA at best, it does continue to give force to its upwards inclination. NASDAQ bounced off its 2,300 support level as predicted yesterday and should see more upside today.

INTERESTING... Guess What You Could Have Done With Our Trend Reading Of NASDAQ?

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