I might get that old NQ 1830 target after all. I had given up on that one at NDX 1821 with the VIX double bottom, but 1825 seems more in order now.
New highs at 1828.50, 30 mn RSI showing a clear bearish divergence, but we are used to that. Smells like short covering more than anything, but many hedgies were obviously waiting for NQ monthly R2 near 1831.50.
We are pulling back from that new high as I type. NQ support is 1826. Below that, 1824.25. Oil is still above 60. A falling dollar will be supportive of higher oil prices as OPEC does everything they can to make up for the currency loss since they get paid in dollars.
New highs at 1828.50, 30 mn RSI showing a clear bearish divergence, but we are used to that. Smells like short covering more than anything, but many hedgies were obviously waiting for NQ monthly R2 near 1831.50.
We are pulling back from that new high as I type. NQ support is 1826. Below that, 1824.25. Oil is still above 60. A falling dollar will be supportive of higher oil prices as OPEC does everything they can to make up for the currency loss since they get paid in dollars.
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on Friday, November 24, 2006 at 11/24/2006 11:12:00 AM.
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