PM update:
Leading indicators provided a push, although remember that it is pretty much a summary of what we already know. Per Bloomberg: "The majority of the components of the leading indicators have been reported earlier in the month so that the composite index doesn't necessarily reveal new information about the economy. Bond investors tend to be less interested in this index than equity investors. Also, the non-financial media tends to give this index more press than it deserves."
QQQQ is within 20 cents of closing the January gap. Oil is still above 125. the VIX is now attacking the July lows while ISE equity is up there at 185. Complacency rules as does equity call option speculation. ES is stalling at weekly R1 (1441). NQ is lagging slightly, its weekly R1 is higher at 2064.
Leading indicators provided a push, although remember that it is pretty much a summary of what we already know. Per Bloomberg: "The majority of the components of the leading indicators have been reported earlier in the month so that the composite index doesn't necessarily reveal new information about the economy. Bond investors tend to be less interested in this index than equity investors. Also, the non-financial media tends to give this index more press than it deserves."
QQQQ is within 20 cents of closing the January gap. Oil is still above 125. the VIX is now attacking the July lows while ISE equity is up there at 185. Complacency rules as does equity call option speculation. ES is stalling at weekly R1 (1441). NQ is lagging slightly, its weekly R1 is higher at 2064.
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on Monday, May 19, 2008 at 5/19/2008 01:25:00 PM.
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