Pre-open:
The bloom has faded little on the YM drop below 13K, but NQ holds weekly pivot at 2032. Resistance is the overnight high, which is also the 10 day ema (2049).There is no economic news on the calendar so traders will key off bonds and oil prices. TNX just lost 4% and that is giving equties a pause. Support below is 3.95. We have consumer confidence tomorrow, so any rally will probably find some sellers. We will see how the AD lines stack up.
The bloom has faded little on the YM drop below 13K, but NQ holds weekly pivot at 2032. Resistance is the overnight high, which is also the 10 day ema (2049).There is no economic news on the calendar so traders will key off bonds and oil prices. TNX just lost 4% and that is giving equties a pause. Support below is 3.95. We have consumer confidence tomorrow, so any rally will probably find some sellers. We will see how the AD lines stack up.
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on Monday, November 26, 2007 at 11/26/2007 08:54:00 AM.
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