Daily US Market Comments 06 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Markets continued to rally with the continued prospect that the Fed may continue to pause rate hikes this time round. The rally is also backed by a continued retreat in oil prices. In fact there are already analyst stating that oil prices may retreat back down to the $30 to $40 region by end of the year. We will have to stay tuned to that. :)
TECHNICALS
Markets continue its stealth rally with rising volume which is very encouraging. The rising volume tells us that investors are joining into the rally after coming back from the long weekends. The dow has bounced off a double bottom formation and does certainly have more upside to come before the next resistance level. NASDAQ has had a pretty steep climb and are coming up against a strong 200MA resistance level soon at the 2225 level where it is likely to consolidate a little.
Markets continued to rally with the continued prospect that the Fed may continue to pause rate hikes this time round. The rally is also backed by a continued retreat in oil prices. In fact there are already analyst stating that oil prices may retreat back down to the $30 to $40 region by end of the year. We will have to stay tuned to that. :)
TECHNICALS
Markets continue its stealth rally with rising volume which is very encouraging. The rising volume tells us that investors are joining into the rally after coming back from the long weekends. The dow has bounced off a double bottom formation and does certainly have more upside to come before the next resistance level. NASDAQ has had a pretty steep climb and are coming up against a strong 200MA resistance level soon at the 2225 level where it is likely to consolidate a little.
posted by Jason Ng at 11:30 PM
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