Daily US Market Comments 25 Oct 2006 by MastersoEquity.com
FUNDAMENTALS
Markets closed mixed yesterday in advanced of this Friday's Fed release. The Dow closed in a stalemate of 15 advancers and 15 decliners, further expressing the cold calm wait for the coming Fed release. Even though all traders know that in all possibilities, interest rates should stay stagnant along with the dropping CPI, it is almost a habit for the markets to behave this way before every release.
TECHNICALS
Markets traded and closed sideways ahead of the coming Fed meeting. While Oil prices rose yesterday, it has yet to recover much lost ground. The Dow remains grossly overbought and these few days of lobotomy may be exactly what it needs to shed off some of these overbought condition and to continue its journey to the moon. NASDAQ traded sideways in a neutral inside day. Lingering just outside of being overbought, NASDAQ looks poised to move further up at a moment's notice.
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Markets closed mixed yesterday in advanced of this Friday's Fed release. The Dow closed in a stalemate of 15 advancers and 15 decliners, further expressing the cold calm wait for the coming Fed release. Even though all traders know that in all possibilities, interest rates should stay stagnant along with the dropping CPI, it is almost a habit for the markets to behave this way before every release.
TECHNICALS
Markets traded and closed sideways ahead of the coming Fed meeting. While Oil prices rose yesterday, it has yet to recover much lost ground. The Dow remains grossly overbought and these few days of lobotomy may be exactly what it needs to shed off some of these overbought condition and to continue its journey to the moon. NASDAQ traded sideways in a neutral inside day. Lingering just outside of being overbought, NASDAQ looks poised to move further up at a moment's notice.
Looking For What Seems To Be The Most Accurate Stock Pick Service Ever?
posted by Jason Ng at 8:10 PM
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