Watch the retracements from highs. NQ 50% is 1798 and ES 50% is 1395. QQQQ 50% is 44.10. ES is poking its head back in the channel. Be careful trading this as we approach end of month adjustments.
NQ 10 day exponential is at 1794.25, SMA is at 1804. There will be some distribution on the way up as fear of missing the boat will be coupled with relief of getting an opportunity to exit at a higher price.
New home sales figures are due at 10 AM and Oil inventories at 10:30. Right now, no one is paying attention to oil above 61, probably on the bet that oil will retreat after the report.
NQ 10 day exponential is at 1794.25, SMA is at 1804. There will be some distribution on the way up as fear of missing the boat will be coupled with relief of getting an opportunity to exit at a higher price.
New home sales figures are due at 10 AM and Oil inventories at 10:30. Right now, no one is paying attention to oil above 61, probably on the bet that oil will retreat after the report.
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on Wednesday, November 29, 2006 at 11/29/2006 09:01:00 AM.
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