Daily US Market Comments 25 July 2006 by MastersoEquity.com
FUNDAMENTALS
It seems like some of the good earnings release along with RICE's intervention on the Isreali conflict has proven to be quite a booster for the markets as markets rallied yesterday. You do not want to be caught in a short if and when good news come along from the middle east right now. It also look evident that the present oil price has been priced into the market at last as the rebound in oil price didn't seem to dampen investor sentiments yesterday.
TECHNICALS
A broadbased advance in the markets yesterday despite rising oil prices. Even though it looks like a strong session, the markets had merely moved sideways. The markets have dropped into a deep oversold position and is going sideways right now. Unless we see a substantial follow up today, this may be just another Bernanke Bounce.
It seems like some of the good earnings release along with RICE's intervention on the Isreali conflict has proven to be quite a booster for the markets as markets rallied yesterday. You do not want to be caught in a short if and when good news come along from the middle east right now. It also look evident that the present oil price has been priced into the market at last as the rebound in oil price didn't seem to dampen investor sentiments yesterday.
TECHNICALS
A broadbased advance in the markets yesterday despite rising oil prices. Even though it looks like a strong session, the markets had merely moved sideways. The markets have dropped into a deep oversold position and is going sideways right now. Unless we see a substantial follow up today, this may be just another Bernanke Bounce.
posted by Jason Ng at 3:45 AM
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