Daily US Market Comments 13 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
The Market Has Spooooooooken! The definite break that we have been waiting for so long as happened at last with yet another day of correction in oil prices. Oil prices has dropped so fast and far that it is almost hard to imagine that only a month ago, everyone's talking about it going for $100 by the end of the year. Now, whispers are all over the street for oil prices to hit $35 by end of the year! Analysts...sigh....
TECHNICALS
A prefect, almost textbook, topside break yesterday. Broadbased and on heavy volume. This is the kind of move that will set a momentum to upside. This move has allowed the dow to continue trading higher on its rising trend line established since mid July and has brought NASDAQ up against its fearsome 200MA resistance level. A break at this level could spell more upside for NASDAQ. The Dow definite look strong to challenge its all time high should this rising channel continue into the end of the month. On the other hand, it is not strange to see a few weaker days following such a strong move. All in all, sentiments remain bullish and with the market slightly off from begin overbought, I would bet on more topside to come.
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The Market Has Spooooooooken! The definite break that we have been waiting for so long as happened at last with yet another day of correction in oil prices. Oil prices has dropped so fast and far that it is almost hard to imagine that only a month ago, everyone's talking about it going for $100 by the end of the year. Now, whispers are all over the street for oil prices to hit $35 by end of the year! Analysts...sigh....
TECHNICALS
A prefect, almost textbook, topside break yesterday. Broadbased and on heavy volume. This is the kind of move that will set a momentum to upside. This move has allowed the dow to continue trading higher on its rising trend line established since mid July and has brought NASDAQ up against its fearsome 200MA resistance level. A break at this level could spell more upside for NASDAQ. The Dow definite look strong to challenge its all time high should this rising channel continue into the end of the month. On the other hand, it is not strange to see a few weaker days following such a strong move. All in all, sentiments remain bullish and with the market slightly off from begin overbought, I would bet on more topside to come.
WE MADE 20% PROFIT IN ONE DAY YESTERDAY!
Join Our Stock Pick Service And Ride The Rally With Us!
posted by Jason Ng at 7:53 PM
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