Daily US Market Comments 07 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Markets corrected under heavy profit taking yesterday. The correction was strong and on rising volume giving it a definite bearish tone. Inflation worries were again in the limelight as oil prices continue to make new lows.
TECHNICALS
NASDAQ corrected strongly yesterday as we have expected coming up against its 200MA resistance. That correction seemed to put everyone on a selling mood as the dow traded lower for the day. All in all, the dow still looks much more bullish than NASDAQ as it continue to trade above a very steep trend line with a high resistance level ceiling.
ARE YOU STILL MISSING OUT ON OUR 50% CASH REBATE?
Check it out now as it will end by end of the month!
Markets corrected under heavy profit taking yesterday. The correction was strong and on rising volume giving it a definite bearish tone. Inflation worries were again in the limelight as oil prices continue to make new lows.
TECHNICALS
NASDAQ corrected strongly yesterday as we have expected coming up against its 200MA resistance. That correction seemed to put everyone on a selling mood as the dow traded lower for the day. All in all, the dow still looks much more bullish than NASDAQ as it continue to trade above a very steep trend line with a high resistance level ceiling.
ARE YOU STILL MISSING OUT ON OUR 50% CASH REBATE?
Check it out now as it will end by end of the month!
posted by Jason Ng at 8:14 PM
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