Morning update:
They ran some stops to the upside, but a little reality is setting in as we approach lunch. ES 1561.75 is pivotal at this stage. NQ had some relative weakness from the very start, with the SOX in the red and that stalled the bulls around DOW 14K. Watch those gap closes, 1554.75 for ES and 2059.75 for NQ should things turn. For now, bulls are still in charge. Just remember that this is opex and if the plan is to pin QQQQ 50, that is what we will revisit. A break below NQ 2064 would be your first clue.
Semis and financials are down and that is usually a heads up to watch your step if long.
They ran some stops to the upside, but a little reality is setting in as we approach lunch. ES 1561.75 is pivotal at this stage. NQ had some relative weakness from the very start, with the SOX in the red and that stalled the bulls around DOW 14K. Watch those gap closes, 1554.75 for ES and 2059.75 for NQ should things turn. For now, bulls are still in charge. Just remember that this is opex and if the plan is to pin QQQQ 50, that is what we will revisit. A break below NQ 2064 would be your first clue.
Semis and financials are down and that is usually a heads up to watch your step if long.
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on Thursday, July 19, 2007 at 7/19/2007 10:47:00 AM.
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