Morning update (3):
So much for a drop in oil. Now at 97.80, it's holding back an equity rally, although NQ still refuses to lose 1932. Bulls need that oil to come down and soon. It's a volatile day for oil, like all Wednesdays, so be careful.
NQ found resistance at the broken ex-trendline support, 1947. It needs to close above before calling a real turn.
So much for a drop in oil. Now at 97.80, it's holding back an equity rally, although NQ still refuses to lose 1932. Bulls need that oil to come down and soon. It's a volatile day for oil, like all Wednesdays, so be careful.
NQ found resistance at the broken ex-trendline support, 1947. It needs to close above before calling a real turn.
This entry was posted
on Wednesday, January 09, 2008 at 1/09/2008 11:26:00 AM.
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1/9/08 11:51 AMI see the volitility indexes are in the red and so are the major indexes. This really garners my attention. Im not sure how to construe it. Today the disparity isnt as large as yesterday.
1/9/08 12:29 PM
Techs are forging a bottom.
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