Daily US Market Comments 15 Nov 2006 by MastersoEquity.com
FUNDAMENTALS
Markets continue it's journey to upside yesterday as low October PPI number suggested that wholesale inflation plunged by a record amount due to low energy prices. This number is testimony to the effectiveness of the past interest rate hikes and may suggest that further interest rate hikes remain unnecessary. This, along with a small drop in oil price, is all the fuel the market needed to continue its rally. Oil has been on the wall for a while now and we are hoping today's oil inventory number will cast a definite tone onto it.
TECHNICALS
An exciting day yesterday as markets break to upside. The Dow ended its short consolidation and continued its staircase like advance making yet another historical high. NASDAQ also made an important followup to the gains of 2 days ago. This has allowed NASDAQ to edge ever nearer to a 6 years high and with momentum gaining to upside on steadily rising volume, we could see more gains over the next few days.
Want To Know ABSOLUTELY Everything About Option Trading?
Markets continue it's journey to upside yesterday as low October PPI number suggested that wholesale inflation plunged by a record amount due to low energy prices. This number is testimony to the effectiveness of the past interest rate hikes and may suggest that further interest rate hikes remain unnecessary. This, along with a small drop in oil price, is all the fuel the market needed to continue its rally. Oil has been on the wall for a while now and we are hoping today's oil inventory number will cast a definite tone onto it.
TECHNICALS
An exciting day yesterday as markets break to upside. The Dow ended its short consolidation and continued its staircase like advance making yet another historical high. NASDAQ also made an important followup to the gains of 2 days ago. This has allowed NASDAQ to edge ever nearer to a 6 years high and with momentum gaining to upside on steadily rising volume, we could see more gains over the next few days.
Want To Know ABSOLUTELY Everything About Option Trading?
posted by Jason Ng at 5:49 PM
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