Daily US Markets Comments 15 Aug 2006 by MasteroEquity.com
FUNDAMENTALS
Talk about the markets being unpredictable. Markets rallied strongly early yesterday on the middle east cease fire and the consequent drop in oil prices but somehow failed to sustain the rally and succumb by midday to heavy profit taking. Looks like investors these days are trying to take whatever profit they have off the table quickly, given the uncertainty in the markets these days.
TECHNICALS
Markets ended sideways yet again yesterday. What looked to be a channel break quickly dissipitated with the major indices retreating obediently back into their respective price channels. Status quo have been upheld again. Market behaviour yesterday suggest strongly that there is upside potential to this market and have brought near term stochastics looking up from their oversold positions. Let's see if the bullish force manage to pick up some steam today.
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Talk about the markets being unpredictable. Markets rallied strongly early yesterday on the middle east cease fire and the consequent drop in oil prices but somehow failed to sustain the rally and succumb by midday to heavy profit taking. Looks like investors these days are trying to take whatever profit they have off the table quickly, given the uncertainty in the markets these days.
TECHNICALS
Markets ended sideways yet again yesterday. What looked to be a channel break quickly dissipitated with the major indices retreating obediently back into their respective price channels. Status quo have been upheld again. Market behaviour yesterday suggest strongly that there is upside potential to this market and have brought near term stochastics looking up from their oversold positions. Let's see if the bullish force manage to pick up some steam today.
NEW ALERT! Still looking for the perfect option trading book to start your journey to investment excellence? STOP GUESSING! Go to The Most Authoritative Option Trading Book Review And Recommendation By The Master Here!
posted by Jason Ng at 7:39 PM
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