Solid reversal off lows and it's as if nothing happened. NQ (NDX future)is back at 1819, 61.8% 2007, while holding its 50 DMA (1813)in the final hour. MSFT sparks a short squeeze, but the writing was on the wall when copper stayed bullish the entire day, even with the housing news (see earlier comment on the warning I gave bears to not expect a collapse).
Bulls had some fun knocking a few bears, but they should not get too complacent either. Earnings season is coming, warnings and all, and that is going to be what counts, not Fed tea leaves reading.
Bulls had some fun knocking a few bears, but they should not get too complacent either. Earnings season is coming, warnings and all, and that is going to be what counts, not Fed tea leaves reading.
This entry was posted
on Monday, March 26, 2007 at 3/26/2007 03:51:00 PM.
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