Nice bounce off COMP 2500 and NQ (NDX future) makes it back up to overnight highs of 1848. The Yen is still strong so expect some whipsaws.
OEX (S&P 100) held the key 670 level on the morning pullback and that could signal more gains. The SOX is very bullish. When leadership moves to the semis, don't get caught on the short side. There is lots of bad news out there, but the markets still feel strong, amazingly enough. Don't argue as long as the trend is up. HGX (Housing index) is up today, even with the foreclosure news. That should tell you something.
If you are daytrading, key support is NQ 1840.50, this morning's gap open. For YM (DOW future), it's 12803, but bulls need to hold 12813, weekly R2. ES 1477 (SPX future) is the other zone to hold.
OEX (S&P 100) held the key 670 level on the morning pullback and that could signal more gains. The SOX is very bullish. When leadership moves to the semis, don't get caught on the short side. There is lots of bad news out there, but the markets still feel strong, amazingly enough. Don't argue as long as the trend is up. HGX (Housing index) is up today, even with the foreclosure news. That should tell you something.
If you are daytrading, key support is NQ 1840.50, this morning's gap open. For YM (DOW future), it's 12803, but bulls need to hold 12813, weekly R2. ES 1477 (SPX future) is the other zone to hold.
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on Wednesday, April 18, 2007 at 4/18/2007 11:14:00 AM.
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