Daily Market Comments 06 July 2006 by MastersoEquity.com
Fundamentals
Markets gave all investors a nasty surprise again yesterday. When all things are looking bullish, an unexpected missile test from North Korea, a series of economic data that gave rise to worries of an over slowing in the economy and rising oils prices came up. DJIA gave up 0.68% and NASDAQ was hard hit with 1.69%. We will have to wait for employment figures on Friday to give a shade of hope to the markets.
Technicals
Markets consolidate further into the red yesterday. Note worthy is that there are still a significant number of stocks making new highs versus new lows yesterday thereby creating a secretive bullish under current to this wave of bearishness. We need to see a definite break to upside today or tomorrow if not, we may be settling into a sideways price channel.
Markets gave all investors a nasty surprise again yesterday. When all things are looking bullish, an unexpected missile test from North Korea, a series of economic data that gave rise to worries of an over slowing in the economy and rising oils prices came up. DJIA gave up 0.68% and NASDAQ was hard hit with 1.69%. We will have to wait for employment figures on Friday to give a shade of hope to the markets.
Technicals
Markets consolidate further into the red yesterday. Note worthy is that there are still a significant number of stocks making new highs versus new lows yesterday thereby creating a secretive bullish under current to this wave of bearishness. We need to see a definite break to upside today or tomorrow if not, we may be settling into a sideways price channel.
posted by Jason Ng at 8:48 PM
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