Daily US Market Comments 08 Aug 2006 by MastersoEquity.com
FUNDAMENTALS
Markets corrected slightly on balloning oil prices yesterday but we all know today is the big day that will set the real pace for the market... Big Ben's report! Let's cross our fingers and wait patiently. So far, hopes are high for a rate pause but investor sentiments are still largely bearish and poised to take profit.
TECHNICALS
Markets continue sideways in anticipation of the Fed release today. This is going to be fundamentals driven but I do suspect that first, Big Ben's going to raise rates anyways for one last time to seal in the effects and secondly, even if he do not, there may be little topside left in the rally as profit takers stand poised on the sidelines.
Markets corrected slightly on balloning oil prices yesterday but we all know today is the big day that will set the real pace for the market... Big Ben's report! Let's cross our fingers and wait patiently. So far, hopes are high for a rate pause but investor sentiments are still largely bearish and poised to take profit.
TECHNICALS
Markets continue sideways in anticipation of the Fed release today. This is going to be fundamentals driven but I do suspect that first, Big Ben's going to raise rates anyways for one last time to seal in the effects and secondly, even if he do not, there may be little topside left in the rally as profit takers stand poised on the sidelines.
posted by Jason Ng at 7:06 PM
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