Daily US Market Comments 12 Oct 2006 by MastersoEquity.com
FUNDAMENTALS
A mini rendition of the 911 tragedy struck New York City again as an unfortunate small airplane rammed into a condominium building causing 2 deaths. It is an unfortunate incident that put some early pressure on the markets, causing concern if this is another terrorist attack. However, it became clear later in the day that it is anything but a terrorist attack. Markets recovered slowly to close right about where it closed the day before.
TECHNICALS
No big surprise on the technical side as the market continue to trade sideways as we have predicted it to. Markets continue to stay in the extreme overbought position and we should see it come down just a little bit before it has any energy to go any further up. NASDAQ has bounced off and rallied from its 200MA so far and will be coming up against another strong resistance level at 2350 soon.
Can You Believe We Transformed Complete Newbies Into Master Traders Instantly?
A mini rendition of the 911 tragedy struck New York City again as an unfortunate small airplane rammed into a condominium building causing 2 deaths. It is an unfortunate incident that put some early pressure on the markets, causing concern if this is another terrorist attack. However, it became clear later in the day that it is anything but a terrorist attack. Markets recovered slowly to close right about where it closed the day before.
TECHNICALS
No big surprise on the technical side as the market continue to trade sideways as we have predicted it to. Markets continue to stay in the extreme overbought position and we should see it come down just a little bit before it has any energy to go any further up. NASDAQ has bounced off and rallied from its 200MA so far and will be coming up against another strong resistance level at 2350 soon.
Can You Believe We Transformed Complete Newbies Into Master Traders Instantly?
posted by Jason Ng at 8:02 PM
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