Daily US Market Comments 19 July 2006 by MastersoEquity.com
FUNDAMENTALS
An almost encouraging day with a good run towards the end of the trading day. The Dow gained marginally by 0.48% and NASDAQ gained 0.27%. Oil prices was extremely volatile yesterday going up and down as much as $1 throwing most investors who are trading based on oil prices off their feet completely. Earnings are also mixed with some companies doing better than others. Tomorrow's CPI numbers should be able to give a boost to the markets should it confirm inflation is under control.
TECHNICALS
A sideways market with very little commitment to upside. There isn't enough breadth to suggest a key reversal day as advancers and decliners were almost on equilibrium. Instead, the markets continue to make new lows yesterday without so much as to beat the high of 2 days ago. This is a key area for the markets right now where a reversal can indeed take place should a key reversal day turn up today setting a new week high on good breadth.
An almost encouraging day with a good run towards the end of the trading day. The Dow gained marginally by 0.48% and NASDAQ gained 0.27%. Oil prices was extremely volatile yesterday going up and down as much as $1 throwing most investors who are trading based on oil prices off their feet completely. Earnings are also mixed with some companies doing better than others. Tomorrow's CPI numbers should be able to give a boost to the markets should it confirm inflation is under control.
TECHNICALS
A sideways market with very little commitment to upside. There isn't enough breadth to suggest a key reversal day as advancers and decliners were almost on equilibrium. Instead, the markets continue to make new lows yesterday without so much as to beat the high of 2 days ago. This is a key area for the markets right now where a reversal can indeed take place should a key reversal day turn up today setting a new week high on good breadth.
posted by Jason Ng at 9:45 PM
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