- 23
- May
This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity
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 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.
The Star Trading System also reflects this neutral sentiment with an almost equal number of morning and evening stars.
Thought For The Day : “Discipline and Patience is the hallmark of every successful trader.”
