Overnight:
Futures are way up even before we get the housing news. NQ hits 2021, 50% projection last week. Next resistance is 2126 and 2130, weekly R2. YM is above 14K and has weekly R1 resistance at 14092. Oil has put in another bid, now close to 81. The news better be excatly what they want. What do they want? More bad news and they get a rate cut, or too much bad news and a rate cut won't matter? Do the Feds really care about this news or are they waiting for the October non-farm payrolls next week? All questions that will be answered very shortly.
Futures are way up even before we get the housing news. NQ hits 2021, 50% projection last week. Next resistance is 2126 and 2130, weekly R2. YM is above 14K and has weekly R1 resistance at 14092. Oil has put in another bid, now close to 81. The news better be excatly what they want. What do they want? More bad news and they get a rate cut, or too much bad news and a rate cut won't matter? Do the Feds really care about this news or are they waiting for the October non-farm payrolls next week? All questions that will be answered very shortly.
This entry was posted
on Thursday, September 27, 2007 at 9/27/2007 04:54:00 AM.
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