Daily US Market Comments 08 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Oil prices continue to fall but did not manage to overcome the negative fed comment that rate hikes are not really over. Markets continue to correct yesterday without any more hypes to keep it going to upside.
TECHNICALS
Markets continue to wear off its overbought condition yesterday. With the correction yesterday, the markets have for once, after one whole month of uptrend, showing signs of the uptrend coming to an end. The short term ADX has started to tee off with stochastics breaking to downside. We should be looking to a short term support for NASDAQ at about 2131 and the dow at about 11300.
LOOKING FOR THE BEST OPTION TRADING BOOKS?
Oil prices continue to fall but did not manage to overcome the negative fed comment that rate hikes are not really over. Markets continue to correct yesterday without any more hypes to keep it going to upside.
TECHNICALS
Markets continue to wear off its overbought condition yesterday. With the correction yesterday, the markets have for once, after one whole month of uptrend, showing signs of the uptrend coming to an end. The short term ADX has started to tee off with stochastics breaking to downside. We should be looking to a short term support for NASDAQ at about 2131 and the dow at about 11300.
LOOKING FOR THE BEST OPTION TRADING BOOKS?
posted by Jason Ng at 9:33 PM
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