Update 3:
SPX moves all the way down to 1450, which is also 61.8% Aug/Oct. That needs to hold, but it does look like it found some buyers. AD lines are not as bad as yesterday, at least for now.
QQQQ is back above 51, but lots of damage there.
The level to watch for ES (SPX futures) is 1462 if a bounce gets started. Traders that bought SPX 1450 might want to use that as a gauge for their stops. For NQ, the level would be 2097.50.
SPX moves all the way down to 1450, which is also 61.8% Aug/Oct. That needs to hold, but it does look like it found some buyers. AD lines are not as bad as yesterday, at least for now.
QQQQ is back above 51, but lots of damage there.
The level to watch for ES (SPX futures) is 1462 if a bounce gets started. Traders that bought SPX 1450 might want to use that as a gauge for their stops. For NQ, the level would be 2097.50.
This entry was posted
on Thursday, November 08, 2007 at 11/08/2007 01:24:00 PM.
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