Morning update:
If you are trading NQ (QQQQ/NDX), watch oil. It's obvious that a bid above 80.70 is stalling efforts to get past the pivot. Overnight lows and S1 have not yet been tested (2052.50), although we did get a pin at Q 50.
You might also note that we are miles away from the NQ 5 dma at 2043. A little stretched to say the least.
Bernanke does not seem to care about the dollar and he might have his reasosn, but right now, it's in a mini-crash and headed for the 1992 lows.
I will be out of the office for the rest of the day.
If you are trading NQ (QQQQ/NDX), watch oil. It's obvious that a bid above 80.70 is stalling efforts to get past the pivot. Overnight lows and S1 have not yet been tested (2052.50), although we did get a pin at Q 50.
You might also note that we are miles away from the NQ 5 dma at 2043. A little stretched to say the least.
Bernanke does not seem to care about the dollar and he might have his reasosn, but right now, it's in a mini-crash and headed for the 1992 lows.
I will be out of the office for the rest of the day.
This entry was posted
on Thursday, September 20, 2007 at 9/20/2007 10:27:00 AM.
You can skip to the end and leave a response.
» Post a Comment