Daily US Market Comments 20 July 2006 by MastersoEquity.com
FUNDAMENTALS
What a surprising turn of events! The Dow ended up in an extremely strong 1.96% and NASDAQ was slightly less than impressive at 1.83%. Fed Chairman's testimony that inflation is slightly higher than expected but is under control and that we should see it coming down soon along with dropping oil prices have been the primary fuel for the rally today or what the press calls a Bernanke Rally. It does seem that investors are more concerned about further rate hikes than anything else and a slight hint to its pause does have critical effects on the markets.
TECHNICALS
Yesterday truly was a key reversal point in an oversold market. Indexes moved up with great bullishness and volume forming a nice J hook formation on NASDAQ and the Dow. Techincals have reversed completely overnight with the bearish momentum completely obliterated and stochastics moving off the oversold region.
PROFIT ALERT! We rode the recent short but fantastic down trend to profit over 40% on NKTR! Check Out EXACTLY HOW we did it at http://www.mastersoequity.com/MOE_latest_trade.htm
What a surprising turn of events! The Dow ended up in an extremely strong 1.96% and NASDAQ was slightly less than impressive at 1.83%. Fed Chairman's testimony that inflation is slightly higher than expected but is under control and that we should see it coming down soon along with dropping oil prices have been the primary fuel for the rally today or what the press calls a Bernanke Rally. It does seem that investors are more concerned about further rate hikes than anything else and a slight hint to its pause does have critical effects on the markets.
TECHNICALS
Yesterday truly was a key reversal point in an oversold market. Indexes moved up with great bullishness and volume forming a nice J hook formation on NASDAQ and the Dow. Techincals have reversed completely overnight with the bearish momentum completely obliterated and stochastics moving off the oversold region.
PROFIT ALERT! We rode the recent short but fantastic down trend to profit over 40% on NKTR! Check Out EXACTLY HOW we did it at http://www.mastersoequity.com/MOE_latest_trade.htm
posted by Jason Ng at 9:17 PM
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