Daily US Market Comments 21 Nov 2006 by MastersoEquity.com
FUNDAMENTALS
Markets closed mixed as investor's concern that the market may be overbougt rose. Oil prices also managed to get back up into its $59 - $61 sideways range showing that strength prevails afterall. That could make investors a little concern about whether oil could stage a rebound from this point on.
TECHNICALS
No real surprise yesterday as all indices continue its sideways consolidation. Looking back at the indices over the past 3 months, we see that it is climbing on steadily on a staircase like formation of 3 to 5 days consolidation before every significant move up. From the way it looks, the markets might just build another step up just before thanks giving for a good holiday bonus. :)
Discover How A 28 Years Old Kid Retired Young And Rich Through Option Trading!
Markets closed mixed as investor's concern that the market may be overbougt rose. Oil prices also managed to get back up into its $59 - $61 sideways range showing that strength prevails afterall. That could make investors a little concern about whether oil could stage a rebound from this point on.
TECHNICALS
No real surprise yesterday as all indices continue its sideways consolidation. Looking back at the indices over the past 3 months, we see that it is climbing on steadily on a staircase like formation of 3 to 5 days consolidation before every significant move up. From the way it looks, the markets might just build another step up just before thanks giving for a good holiday bonus. :)
Discover How A 28 Years Old Kid Retired Young And Rich Through Option Trading!
posted by Jason Ng at 7:23 PM
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