Financial Market Analysis
By Shawn R. Carpenter
Monday, March 06, 2006
S&P 500 Communications Sector
The S&P 500 Communication Sector is making multi-year highs. Part of this reason is due to the recent AT&T/BellSouth deal, which is driving the rally forward today. We should see the first resistance level around the 136.00 level. If we push past that, we might be heading higher. Yet, 21 day slow stochastics are pointing to an overbought situation. Continue to watch if the market gets some momentum, but as it stands now the markets look like they are not finding any footing... ¶ 7:13:00 PM
The S&P 500 Communication Sector is making multi-year highs. Part of this reason is due to the recent AT&T/BellSouth deal, which is driving the rally forward today. We should see the first resistance level around the 136.00 level. If we push past that, we might be heading higher. Yet, 21 day slow stochastics are pointing to an overbought situation. Continue to watch if the market gets some momentum, but as it stands now the markets look like they are not finding any footing... ¶ 7:13:00 PM
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