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
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