Daily US Market Comments 05 Oct 2006 by MastersoEquity.com
FUNDAMENTALS
Markets surged unexpectedly yesterday on an equally unexpectedly optimistic comment by Uncle Ben. From his comments it seems like the Fed is extremely happy with the way the economy is progressing and increased the probability that the fed may continue to keep rates stagnant. This is exactly the kind of good news the market needs to continue its slowing rally. This, along with favorable Job numbers this Friday, may be all the fuel the market needs to go much further.
TECHNICALS
Yesterday was a day where markets suddenly move from a sideways trend into an uptrend suddenly and unexpectedly. This move has put the market back on its rising trend line on very strong volume. Markets are also off its overbought condition and does look very good to continue its uptrend.
We Took 17% Profit On GM Yesterday! Join Us Now!
Markets surged unexpectedly yesterday on an equally unexpectedly optimistic comment by Uncle Ben. From his comments it seems like the Fed is extremely happy with the way the economy is progressing and increased the probability that the fed may continue to keep rates stagnant. This is exactly the kind of good news the market needs to continue its slowing rally. This, along with favorable Job numbers this Friday, may be all the fuel the market needs to go much further.
TECHNICALS
Yesterday was a day where markets suddenly move from a sideways trend into an uptrend suddenly and unexpectedly. This move has put the market back on its rising trend line on very strong volume. Markets are also off its overbought condition and does look very good to continue its uptrend.
We Took 17% Profit On GM Yesterday! Join Us Now!
posted by Jason Ng at 10:14 PM
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