Morning update:
This is definitely a lousy day to trade once we got the opening gap close. Traders are being whipped around by TNX moves between 51.65 and 52.05. NQ support is holding after an initial bear attempt to break NQ weekly pivot, but so far it failed. Things could change through lunch and at the close, the internals are bearish, but day traders are probably relegated to quick scalps for now. I would put SPX 1512.50 on the radar as must hold. The bias today is sell the rallies, with all bearish bets off above NQ 1965.
This is definitely a lousy day to trade once we got the opening gap close. Traders are being whipped around by TNX moves between 51.65 and 52.05. NQ support is holding after an initial bear attempt to break NQ weekly pivot, but so far it failed. Things could change through lunch and at the close, the internals are bearish, but day traders are probably relegated to quick scalps for now. I would put SPX 1512.50 on the radar as must hold. The bias today is sell the rallies, with all bearish bets off above NQ 1965.
This entry was posted
on Friday, June 22, 2007 at 6/22/2007 11:00:00 AM.
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