Daily US Market Comments 15 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Markets slow down its rally despite new lows being made on oil prices. Oil failed to follow up on its reversal yesterday and continued to trend down. It is hardly surprising to see a little slow down after such a strong rally though.
TECHNICALS
NASDAQ continued to struggle at its 200MA and probably slowing the market down. This is a pretty dangerous level for the market as any weakness followed up from this point on could just fall prey to the negatively divergent short term stochastics.
Markets slow down its rally despite new lows being made on oil prices. Oil failed to follow up on its reversal yesterday and continued to trend down. It is hardly surprising to see a little slow down after such a strong rally though.
TECHNICALS
NASDAQ continued to struggle at its 200MA and probably slowing the market down. This is a pretty dangerous level for the market as any weakness followed up from this point on could just fall prey to the negatively divergent short term stochastics.
posted by Jason Ng at 7:05 PM
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