I noted yesterday not to get greedy and take money in the middle. I didn't think they would sell it this hard, but that is why you don't take chance on a counter-trend swing and book your profits quickly. NQ 2010 was upper resistance and they sold that non-stop all day. It found support at monthly pivot (1943). ES double bottomed at its 200 dma, but it looks ugly. No follow-through, gap and crap and new lows for NDX/QQQQ. YM 13K is not that far away.
Bears should note, however, that ADVDEC lines were not that bad, only -496. It was a strange day, as if sellers reluctantly took over and no one stood in their way.
Bears should note, however, that ADVDEC lines were not that bad, only -496. It was a strange day, as if sellers reluctantly took over and no one stood in their way.
This entry was posted
on Tuesday, July 31, 2007 at 7/31/2007 04:08:00 PM.
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