Noon update:
Bulls push NQ back above weekly pivot and if they hold that (2032), this could be quite a rally. The DOW is back above 12900. What I like about this bounce is that the AD lines are slowly building as if climbing a wall of worry. Not many believers out there and that is bullish. What I don't like about this rally is the TRIN at 1 and the GOOG failure at 676.
Target for NQ would be 2072 if we hold 2032. Watch TNX 4% for signs of bond selling abating.
Bulls push NQ back above weekly pivot and if they hold that (2032), this could be quite a rally. The DOW is back above 12900. What I like about this bounce is that the AD lines are slowly building as if climbing a wall of worry. Not many believers out there and that is bullish. What I don't like about this rally is the TRIN at 1 and the GOOG failure at 676.
Target for NQ would be 2072 if we hold 2032. Watch TNX 4% for signs of bond selling abating.
This entry was posted
on Tuesday, November 27, 2007 at 11/27/2007 11:37:00 AM.
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