Closing hour:
Shorts are getting slaughtered as the VIX drops even further. Rising yields gave the all clear sign, as money left bonds and went back into equities. Bulls managed to hold key levels, SPX 200 dma and DOW 38.2% retrace off March lows (13226).
Resistance will now be 5 DMA's accross the board, quite a come back if it holds. Watch weekly pivots as well, ES 1490.50 and NQ 1995.75.
Shorts are getting slaughtered as the VIX drops even further. Rising yields gave the all clear sign, as money left bonds and went back into equities. Bulls managed to hold key levels, SPX 200 dma and DOW 38.2% retrace off March lows (13226).
Resistance will now be 5 DMA's accross the board, quite a come back if it holds. Watch weekly pivots as well, ES 1490.50 and NQ 1995.75.
This entry was posted
on Monday, July 30, 2007 at 7/30/2007 03:11:00 PM.
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