Daily US Market Comments 06 Dec 2006 by MastersoEquity.com
FUNDAMENTALS
While there are no economic data of significant impact, markets rose marginally on data that were of lesser significance like the ISM index and a slowing in labor cost. Oil remained stagnant yesterday too. All in all, a day ending in kind of a draw.
TECHNICALS
Markets followed up on its rise yesterday completing the staircase formation that it has been forming so far. This could mean new highs to come soon especially when stochastics of major indices are rebounding from a short term oversold position. Oil remained sideways and could do all of us good by staying sideways. The $63 level proved to be a very strong resistance level. Failing which, we could see oil sink back down to test the $61 region once again.
Option Trading Articles!
While there are no economic data of significant impact, markets rose marginally on data that were of lesser significance like the ISM index and a slowing in labor cost. Oil remained stagnant yesterday too. All in all, a day ending in kind of a draw.
TECHNICALS
Markets followed up on its rise yesterday completing the staircase formation that it has been forming so far. This could mean new highs to come soon especially when stochastics of major indices are rebounding from a short term oversold position. Oil remained sideways and could do all of us good by staying sideways. The $63 level proved to be a very strong resistance level. Failing which, we could see oil sink back down to test the $61 region once again.
Option Trading Articles!
posted by Jason Ng at 7:54 PM
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