Daily US Market Comments 11 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Oil prices continue its dive much to the surprise of most commodity traders. That has spurred a slight recovery in the markets last Friday. Well, as the old commodity traders would say, the trend is your friend. Oil is on a definite downtrend and do not yet look like it is reaching a bottom. A continued correction in oil prices along with a favorable fed release could be all the ingredients necessary to push the dow to an all time high.
TECHNICALS
Markets moved sideways last Friday on a very weak rise with low volume. The markets have worn off much of its oversold condition over the last few trading days and that, along with a healthy trend line and strong fundamental reasons, could spell more upside to come. Major indicators continue to point towards a strong uptrending market.
Oil prices continue its dive much to the surprise of most commodity traders. That has spurred a slight recovery in the markets last Friday. Well, as the old commodity traders would say, the trend is your friend. Oil is on a definite downtrend and do not yet look like it is reaching a bottom. A continued correction in oil prices along with a favorable fed release could be all the ingredients necessary to push the dow to an all time high.
TECHNICALS
Markets moved sideways last Friday on a very weak rise with low volume. The markets have worn off much of its oversold condition over the last few trading days and that, along with a healthy trend line and strong fundamental reasons, could spell more upside to come. Major indicators continue to point towards a strong uptrending market.
posted by Jason Ng at 7:06 PM
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