Morning update:
Bulls lose daily pivots and it looks like we might get that test of weekly pivots. Note that ISEE traded above 200 all morning and that is telling you there was way too much optimism at the open. This is still low volume summer trading so take your chips when they come.
Note that 1470.50 for ES is 50% of the correction and they might hold that ahead of weekly pivots. Expect at least a reactionary bounce. If it holds and internals improve, 1470.50 might be all bears get, at least through lunch.
Bulls lose daily pivots and it looks like we might get that test of weekly pivots. Note that ISEE traded above 200 all morning and that is telling you there was way too much optimism at the open. This is still low volume summer trading so take your chips when they come.
Note that 1470.50 for ES is 50% of the correction and they might hold that ahead of weekly pivots. Expect at least a reactionary bounce. If it holds and internals improve, 1470.50 might be all bears get, at least through lunch.
This entry was posted
on Monday, August 27, 2007 at 8/27/2007 11:17:00 AM.
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