Dow Continues Sideways
FUNDAMENTAL ANALYSIS
The retreat in crude oil prices today by $1.30 caused a retreat in the energy sector which left the market in a stalemate. The Dow pulled back marginally by 2.93 points as there were no important economic release to base a rally on. Tomorrow's crude inventory release (please refer to http://www.mastersoequity.com/option_trader_hq.php for economic release calendar) should shed some definite light on whether crude oil will rebound or stage a correction from here.
TECHNICAL ANALYSIS
The Dow moved sideways today as it continues to make another step in the staircase formation. Nothing have changed so far as the Dow continues to rally comfortably in the short term overbought region.
Technical Chart By Worden Brothers TC2007 Charting Software
Voted Best Software By Readers Of Stocks & Commodity Magazine Since 1993!
The retreat in crude oil prices today by $1.30 caused a retreat in the energy sector which left the market in a stalemate. The Dow pulled back marginally by 2.93 points as there were no important economic release to base a rally on. Tomorrow's crude inventory release (please refer to http://www.mastersoequity.com/option_trader_hq.php for economic release calendar) should shed some definite light on whether crude oil will rebound or stage a correction from here.
TECHNICAL ANALYSIS
The Dow moved sideways today as it continues to make another step in the staircase formation. Nothing have changed so far as the Dow continues to rally comfortably in the short term overbought region.
Technical Chart By Worden Brothers TC2007 Charting Software
Voted Best Software By Readers Of Stocks & Commodity Magazine Since 1993!
posted by Jason Ng at 8:25 PM
0 Comments:
Post a Comment
<< Home