Daily US Market Comments 23 Aug 2006 by MastersoEquity.com
FUNDAMENTALS
The Feds have spoken again... yes, another possible rate hike coming up during the next Fed meeting. This is hardly a surprising news and have only little impact on the market as the markets continue sideways amidst global uncertainties.
TECHNICALS
Markets continue to move sideways in a healthy pullback pattern. Even though the markets ended lower yesterday, it was considerably stronger than the day before as it challenges the 3 day highs. The low of 16 Aug continue to stand its ground and holds the integrity of the overall trend. We should see a break out of this lobotomy within the next 2 days and my best bet would be to upside.
The Feds have spoken again... yes, another possible rate hike coming up during the next Fed meeting. This is hardly a surprising news and have only little impact on the market as the markets continue sideways amidst global uncertainties.
TECHNICALS
Markets continue to move sideways in a healthy pullback pattern. Even though the markets ended lower yesterday, it was considerably stronger than the day before as it challenges the 3 day highs. The low of 16 Aug continue to stand its ground and holds the integrity of the overall trend. We should see a break out of this lobotomy within the next 2 days and my best bet would be to upside.
posted by Jason Ng at 8:25 PM
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