Daily US Market Comments 16 Aug 2006 by MastersoEquity.com
FUNDMENTALS
Markets rallied strongly yesterday at last. This is the kind of rally that everyone's been waiting for since the fed release. This is probably in response to the lower than expected PPI. Today's CPI number can still be a dampener to this rally if it does not come up better than expected.
TECHNICALS
Markets went into a strong rally today first by gapping up strongly and then rallying through the day. NASDAQ has broke free of its resistance level on rising volume with near term stochastics progressing healthy up from the oversold region. This is an extremely bullish stance which is expected to continue should it continue to hold above its resistance level over the next couple of days.
Markets rallied strongly yesterday at last. This is the kind of rally that everyone's been waiting for since the fed release. This is probably in response to the lower than expected PPI. Today's CPI number can still be a dampener to this rally if it does not come up better than expected.
TECHNICALS
Markets went into a strong rally today first by gapping up strongly and then rallying through the day. NASDAQ has broke free of its resistance level on rising volume with near term stochastics progressing healthy up from the oversold region. This is an extremely bullish stance which is expected to continue should it continue to hold above its resistance level over the next couple of days.
posted by Jason Ng at 10:08 PM
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