That NQ gap close pre-open at 1734.75 (you read it here live..) did the trick it seems. They might even work at pinning QQQQ 43 again by the end of the week, although that would take a massive effort on the part of the bulls. I'm not sure they have it in them, but we let price decide.
The Yen has dropped from excessively high levels (in relation to Japanese rates) and that is giving stocks a boost. Dead cat bounce or something more, it's hard to tell for now. ADVDEC lines are not very strong so far.
Watch OEX 631.10 for any sign of a collapse (200 day ema, quadruple hit so far).
Since NQ is giving the clues, futures traders need to watch 1754, confluence daily and weekly pivot.
The Yen has dropped from excessively high levels (in relation to Japanese rates) and that is giving stocks a boost. Dead cat bounce or something more, it's hard to tell for now. ADVDEC lines are not very strong so far.
Watch OEX 631.10 for any sign of a collapse (200 day ema, quadruple hit so far).
Since NQ is giving the clues, futures traders need to watch 1754, confluence daily and weekly pivot.
This entry was posted
on Wednesday, March 14, 2007 at 3/14/2007 09:33:00 AM.
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