Daily US Market Comments 03 Nov 2006 by MastersoEquity.com
FUNDAMENTALS
Markets closed mixed ahead of today's Employment Figures. So far, all indications seemed to point towards an accelerating slow down in the economy and seemed to have put a slight pressure on the markets. On the other hand, such a slow down seemed to be a result of all the measures taken so far to curb inflation. Oil price is also slowly and secretly creeping downwards in the guise of a sideways movement as it once again visit the $57s. Let's keep an eye on the employment figures today.
TECHNICALS
Markets continue to consolidate sideways as we mentioned 2 days ago. No nasty surprise yesterday. This consolidation has brought the short term stochastics of all indexes back down to the lowest level in 2 months. With the short term stochastics dropping off so quickly while indices are still largely sideway seems to suggest price resilience and therefore more upside to come after short term stochastics hit oversold level. For now, markets remain sideways.
Who Would Have Thought You Could Profit From A Sideways Market?
Markets closed mixed ahead of today's Employment Figures. So far, all indications seemed to point towards an accelerating slow down in the economy and seemed to have put a slight pressure on the markets. On the other hand, such a slow down seemed to be a result of all the measures taken so far to curb inflation. Oil price is also slowly and secretly creeping downwards in the guise of a sideways movement as it once again visit the $57s. Let's keep an eye on the employment figures today.
TECHNICALS
Markets continue to consolidate sideways as we mentioned 2 days ago. No nasty surprise yesterday. This consolidation has brought the short term stochastics of all indexes back down to the lowest level in 2 months. With the short term stochastics dropping off so quickly while indices are still largely sideway seems to suggest price resilience and therefore more upside to come after short term stochastics hit oversold level. For now, markets remain sideways.
Who Would Have Thought You Could Profit From A Sideways Market?
posted by Jason Ng at 8:16 PM
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