The bulls are aiming for that monster NDX February gap at 1801.87/1830.59, should they manage to get above 1786, 50 day moving average. Whether they close it or not is a different story. I doubt we will get past 1786 before the Feds, but shorts need to take notice. As you can see, the old trendline support (black upward line)will also come into play between 1777 and 1786. These could be areas to enter a short ahead of Wednesday, but be disciplined with your stops. As for playing it long, it's a trade if NDX holds 1742. I emphasize the word trade, short or long.
Tip: weekly R2 for NQ (NDX futures) at 1808.67 is close to NDX 50 DMA.
This entry was posted
on Monday, March 19, 2007 at 3/19/2007 08:58:00 AM.
You can skip to the end and leave a response.
» Post a Comment