The DOW finds support right above its 30 DMA. ES is trading below weekly S2 while NQ still hasn't hit it. RLX (retaialers) holding above 500 and that could be temporarily supportive. One would have expected more of a sell-off in that index. Broader market internals are very bearish, but if oil drops, they have a slim chance. VIX at 12, very bearish jump.
ES also found support at its 30 DMA (1387.50). However, NQ channel support and 20 DMA is lower at 1777. Weekly S2 for NQ is 1780.50.
ES also found support at its 30 DMA (1387.50). However, NQ channel support and 20 DMA is lower at 1777. Weekly S2 for NQ is 1780.50.
This entry was posted
on Monday, November 27, 2006 at 11/27/2006 11:38:00 AM.
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