Stock Market Analysis

Tuesday, April 24, 2007

Stale Sideways Day With Corroding Consumer Confidence

A completely stale day today with the Dow closing up 34.54 points and the Nasdaq Composite closing up 0.87 points. Consumer sentiments continue to corrode for a third straight month, putting stocks down whole morning before some steady buying brought it back up positive. Technically, I see today's move as a completely sideways day which didn't even do anything to move the Dow off the short term overbought area, neither did it do anything to change anything I have said yesterday. I have gone completely delta neutral with my market tracking positions and see how the market behaves today.

Technical Chart By Worden Brothers TC2007 Charting Software
Voted Best Software By Readers Of Stocks & Commodity Magazine Since 1993!

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