Daily US Market Comments 26 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Markets continue its uptrend yesterday with a rally following the Fed's upbeat comment on the US economy. Oil prices rallied yesterday too giving a much needed boost to the energy sector stocks. This energy sector rally gave the boost to the rally yesterday too. OPEC is threatening to cut production due to the recent drop in oil prices in order to give support to oil prices. We will have to watch and see if this measure could indeed significantly affect oil prices.
TECHNICALS
NASDAQ was the big winner yesterday as it bounced off its 200MA support level and continue along its steep trend line upwards. The Dow continue to experience the effects of a strong resistance level as it retreated deeply off its intraday high. The markets are now slightly off its oversold condition and looks fabulous to continue this uptrend should oil prices not become a sudden concern soon.
WE MADE 53.5% PROFIT YESTERDAY! CLICK HERE TO SEE HOW WE DID IT!
Markets continue its uptrend yesterday with a rally following the Fed's upbeat comment on the US economy. Oil prices rallied yesterday too giving a much needed boost to the energy sector stocks. This energy sector rally gave the boost to the rally yesterday too. OPEC is threatening to cut production due to the recent drop in oil prices in order to give support to oil prices. We will have to watch and see if this measure could indeed significantly affect oil prices.
TECHNICALS
NASDAQ was the big winner yesterday as it bounced off its 200MA support level and continue along its steep trend line upwards. The Dow continue to experience the effects of a strong resistance level as it retreated deeply off its intraday high. The markets are now slightly off its oversold condition and looks fabulous to continue this uptrend should oil prices not become a sudden concern soon.
WE MADE 53.5% PROFIT YESTERDAY! CLICK HERE TO SEE HOW WE DID IT!
posted by Jason Ng at 10:01 PM
<< Home