Stock Market Analysis

Sunday, September 24, 2006

Daily US Market Comments 25 Sep 2006 by MastersoEquity.com

FUNDAMENTALS
Markets continue to consolidate and away from the historical high. As expected, the historical high itself has served as such a strong resistance level that almost every sensible trader is unloading at least half of their profits so far into the safety of their pockets. This certainly does not mean the end of a rally as you will see in the technical explanations. With an interest rate pause already a reality and oil prices continuing to plummet, the fundamentals are strong for the stock market to move on further up.

TECHNICALS
Last Friday's profit taking action is a little different from the prior few days in that volume has shrunk significantly. Short term stochastics were also brought back down from its overbought position. All other technical indications continue to point towards a strong uptrend and until the market proves otherwise, we should assume the same.



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