Daily Market Comments 5 June 06

The markets are still showing significant amount of strength to upside even though Friday was a neutral day. (Yes, such insignificant drop is at best a neutral move, not a downside move.) There still remained little or no definitive factors in the market to cause a decisive move in any directions and the surge in oil price last Friday did not change the fact that oil is still holding steadily below $70 a barrel.

Technically, we need to see a strong upday in the market today before we can say that DJIA and NASDAQ has broken short term resistance to upside.


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