Overnight:
Merger talks (more) and we get a bid right into key resistance for ES (1462.50). NQ looks headed for its 20 dma at 1941, which is also right below 50% retrace of the correction (1945.75). Bonds are now selling and that is helping bulls. The trend is fickle these days so keep on trading it, not holding it.
Toll Brothers dented the enthusiasm a little: link. ES is stalling right at R1. As usual, Europe is bidding, let's see if US markets follow through.
Merger talks (more) and we get a bid right into key resistance for ES (1462.50). NQ looks headed for its 20 dma at 1941, which is also right below 50% retrace of the correction (1945.75). Bonds are now selling and that is helping bulls. The trend is fickle these days so keep on trading it, not holding it.
Toll Brothers dented the enthusiasm a little: link. ES is stalling right at R1. As usual, Europe is bidding, let's see if US markets follow through.
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on Wednesday, August 22, 2007 at 8/22/2007 05:08:00 AM.
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