Personal Commentary on the short-term direction of the market. |
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Market Commentary Last Updated: 6/27/04 Market Direction The markets ended higher for the week, but still remain in a trading range. The June 30th FOMC meeting and Iraq handover may affect the markets, but for now assume the sideways action will continue until the trading range is broken. NASDAQ
The NASDAQ though closing well is still in a trading range. A break higher could be bullish. Dow Jones Industrial Average
The DOW shows similar action, congesting below 10,500. A break above 10,500 would be bullish. Technical Analyst Sentiment Most technical analysts are neutral at this time. We will see how the fed meeting and world events affect the markets next week. MTM Momentum Scan This weekend's bullish momentum scans (last closing prices are in parentheses): AGIL ($8.82), AN ($17.07), CDN ($14.73), CSPLF ($5.02)
NOTE: This section is intended for educational purposes only. The above are merely opinions of the editor of this section. Independent analysis should be undertaken before trading stocks. Click on the link at the bottom of this page to read our disclaimer. |
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