Morning update:
COMP closes the July gap while NQ makes new highs, but ES amd YM are lagging due to financials and energy. It's going to be tough to justify much more with all the news coming out tomorrow, but if we do go higher, watch NQ weekly R1 at 2099.50.
YM is making a triple top. I'm not much of a believer in those so I would not be surprised to see a higher high, maybe even YM 14K. But you have to be careful and not end up missing the boat. The 10 dma on YM is all the way down at 13689. I would stick to seeing how markets react at COMP 2690, which was the plan anyway. I must have posted that chart three times the past week or so. So far, it's resistance.
COMP closes the July gap while NQ makes new highs, but ES amd YM are lagging due to financials and energy. It's going to be tough to justify much more with all the news coming out tomorrow, but if we do go higher, watch NQ weekly R1 at 2099.50.
YM is making a triple top. I'm not much of a believer in those so I would not be surprised to see a higher high, maybe even YM 14K. But you have to be careful and not end up missing the boat. The 10 dma on YM is all the way down at 13689. I would stick to seeing how markets react at COMP 2690, which was the plan anyway. I must have posted that chart three times the past week or so. So far, it's resistance.
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on Monday, September 24, 2007 at 9/24/2007 10:37:00 AM.
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