Meltdown. All gaps from the 22nd are closed and the COMP finishes under its 200 dma. It has a gap to close around 2450. This is not a pretty picture. Everyone is down, except the dollar, bonds and the Yen. NQ lost weekly S1 at 1910.75, next support is 1899/1900, monthly R1.
Note that ES (SPX futures) found support at last week's lows (1434.50). First we double top at 1483.75, now we double bottom at 1434.50? I'm not crazy about that set up, but it's there for now.
Note that ES (SPX futures) found support at last week's lows (1434.50). First we double top at 1483.75, now we double bottom at 1434.50? I'm not crazy about that set up, but it's there for now.
This entry was posted
on Tuesday, August 28, 2007 at 8/28/2007 04:13:00 PM.
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