UMich Nov. sentiment revised down 92.1 vs 92.3
The jovial mood has disappeared. ES hit a major top and unless oil falls apart, there is no reason to bid equities other than the calendar, which I don't trust this year. Bull are now anxiously waiting for the oil inventory number (EIA) at 10:30. That could definitely help turn things around, but for now, NQ/QQQQ below last week's highs.
As for DELL, who cares? It is showing anemic growth year over year and that should actually be bearish for the rest of techs.
The jovial mood has disappeared. ES hit a major top and unless oil falls apart, there is no reason to bid equities other than the calendar, which I don't trust this year. Bull are now anxiously waiting for the oil inventory number (EIA) at 10:30. That could definitely help turn things around, but for now, NQ/QQQQ below last week's highs.
As for DELL, who cares? It is showing anemic growth year over year and that should actually be bearish for the rest of techs.
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on Wednesday, November 22, 2006 at 11/22/2006 10:04:00 AM.
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