Daily US Market Comments 20 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Well, the big day's today. :) There is no telling what Uncle Ben will come up with today despite all that analyst reports that have been going around. There are things that can be analysed and then there are things that do not work around a fixed logic and this is one of those things. Markets were weaker yesterday as expected as profit takers play it safe by taking some money off the table. In fact, the level of profit taking participation is pretty significant as we can see from the volume yesterday. This is yet another sign confirming that not everybody's 100% confident of what is to come.
TECHNICALS
Markets continue to wear off its overbought condition yesterday, setting it up for enough room to both up and down. NASDAQ's 200MA continue to hold as a strong support level and that may give it more inclination to upside then down.
FINAL WEEK OF OUR 50% DISCOUNT!!! HURRY!!! FIND OUT NOW!
Well, the big day's today. :) There is no telling what Uncle Ben will come up with today despite all that analyst reports that have been going around. There are things that can be analysed and then there are things that do not work around a fixed logic and this is one of those things. Markets were weaker yesterday as expected as profit takers play it safe by taking some money off the table. In fact, the level of profit taking participation is pretty significant as we can see from the volume yesterday. This is yet another sign confirming that not everybody's 100% confident of what is to come.
TECHNICALS
Markets continue to wear off its overbought condition yesterday, setting it up for enough room to both up and down. NASDAQ's 200MA continue to hold as a strong support level and that may give it more inclination to upside then down.
FINAL WEEK OF OUR 50% DISCOUNT!!! HURRY!!! FIND OUT NOW!
posted by Jason Ng at 12:57 AM
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