Market Observations 08/03/06
YTD Telecom +18%; DJTA in July -11%; HGX Philly Housing Index +11% since hitting a 52 week low on 07/21.
The RUT finally broke through 700 to the upside. 705 is the next resistance level, watch it closely. Profit taking Fri or Mon prior to the FOMC meeting??
If the FOMC pauses or raises and indicates the likelyhood of an upcoming pause, the market will rocket to the upside.
It appears that since 07/18 we are now 3 weeks into the aforementioned 8 week upswing.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us.
Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
The RUT finally broke through 700 to the upside. 705 is the next resistance level, watch it closely. Profit taking Fri or Mon prior to the FOMC meeting??
If the FOMC pauses or raises and indicates the likelyhood of an upcoming pause, the market will rocket to the upside.
It appears that since 07/18 we are now 3 weeks into the aforementioned 8 week upswing.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us.
Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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