Daily US Market Comments 14 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Markets continue to move up in a slightly weaker day. Markets were largely bolstered by the accumulation in oil prices which gave a boost to the energy companies. Energy companies did not participate actively in this rally so far and with them joining in and the rest of the market still moving up in momentum, we really could expect new highs to come if the oil prices do not stage a reversal into a full uptrend from this point.
TECHNICALS
Markets continue to rally as NASDAQ breaks above its 200SMA on above average volume. The Dow broke out of its narrowing channel line to upside on above average volume too. All in all, markets continue to look very bullish and we could see a new high on the Dow coming up. NASDAQ needs to follow up on its break today and establish a new support level at the 200MA before it can go further.
Markets continue to move up in a slightly weaker day. Markets were largely bolstered by the accumulation in oil prices which gave a boost to the energy companies. Energy companies did not participate actively in this rally so far and with them joining in and the rest of the market still moving up in momentum, we really could expect new highs to come if the oil prices do not stage a reversal into a full uptrend from this point.
TECHNICALS
Markets continue to rally as NASDAQ breaks above its 200SMA on above average volume. The Dow broke out of its narrowing channel line to upside on above average volume too. All in all, markets continue to look very bullish and we could see a new high on the Dow coming up. NASDAQ needs to follow up on its break today and establish a new support level at the 200MA before it can go further.
posted by Jason Ng at 7:30 PM
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