Daily US Market Comments 28 Sep 2006 by MastersoEquity.com
FUNDAMENTALS
Markets continued upwards like a raging bull as the Dow pressed on to make a historical high close. With oil prices finding a strong support and staging a possible rebound, markets slowed its advance significantly. Some good news in the blue chips sector has helped companies like INTC to move strongly ahead these couple of days and that might have the momentum to carry the market a little further up.
TECHNICALS
NASDAQ was down a little yesterday but still made a higher high and a higher low. The Dow continue strongly on its steep uptrend eventhough that has placed it in an extreme short term overbought condition. It will not be strange to see the Dow close in historical highs only to consolidate for a while at that level.
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Markets continued upwards like a raging bull as the Dow pressed on to make a historical high close. With oil prices finding a strong support and staging a possible rebound, markets slowed its advance significantly. Some good news in the blue chips sector has helped companies like INTC to move strongly ahead these couple of days and that might have the momentum to carry the market a little further up.
TECHNICALS
NASDAQ was down a little yesterday but still made a higher high and a higher low. The Dow continue strongly on its steep uptrend eventhough that has placed it in an extreme short term overbought condition. It will not be strange to see the Dow close in historical highs only to consolidate for a while at that level.
Read The Best Option Trading Books Here!
posted by Jason Ng at 9:22 PM
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