Close:
Even though internals were weak, bulls took over pushing techs back above the last three days of losses. The close was shy of the 20 dma for NDX, so a question mark remains. It looked like short covering for the most part, but there was some rotation out of oil into techs. This is still op-ex, so don't trust the direction, especially tomorrow.
Gold pulled back on the dollar rise and oil drop, but support is holding at 898. The downtrend line from the March high is broken to the upside as long as 895 holds if 898 breaks.
No economic news tomorrow so we will be at the mercy of quad witching settlements.
Even though internals were weak, bulls took over pushing techs back above the last three days of losses. The close was shy of the 20 dma for NDX, so a question mark remains. It looked like short covering for the most part, but there was some rotation out of oil into techs. This is still op-ex, so don't trust the direction, especially tomorrow.
Gold pulled back on the dollar rise and oil drop, but support is holding at 898. The downtrend line from the March high is broken to the upside as long as 895 holds if 898 breaks.
No economic news tomorrow so we will be at the mercy of quad witching settlements.
This entry was posted
on Thursday, June 19, 2008 at 6/19/2008 04:19:00 PM.
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