Noon update:
COMP 2600 holds. Oil drops the bid and falls below 62.90 support. Risk is to 62.50, 62.35 and 62. Below that, we would have a screaming buy at 61.45. Energy stocks are going to feel some pressure, but the TRAN is happy. The real shadow is financials and yields above 4.9%. That could be a problem once we are done with EOM plays (end of month).
YM (DOW future) has 61.8% April projection at 13702. We stalled at 13695, but don't discount a higher high before the day is over.
COMP 2600 holds. Oil drops the bid and falls below 62.90 support. Risk is to 62.50, 62.35 and 62. Below that, we would have a screaming buy at 61.45. Energy stocks are going to feel some pressure, but the TRAN is happy. The real shadow is financials and yields above 4.9%. That could be a problem once we are done with EOM plays (end of month).
YM (DOW future) has 61.8% April projection at 13702. We stalled at 13695, but don't discount a higher high before the day is over.
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on Thursday, May 31, 2007 at 5/31/2007 12:08:00 PM.
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