Closing hour:
ES struggles to hold its 50 dma at 1381 and NQ its 20 dma at 1995. Internals are not improving, suggesting possible lower lows. ER was soundly rejected at 749, putting pressure on small caps. Whether or not ES holds at the close, it looks like the VIX could be finally moving back up above 20 as traders get reminded once a again that we are in a bear market.
ES struggles to hold its 50 dma at 1381 and NQ its 20 dma at 1995. Internals are not improving, suggesting possible lower lows. ER was soundly rejected at 749, putting pressure on small caps. Whether or not ES holds at the close, it looks like the VIX could be finally moving back up above 20 as traders get reminded once a again that we are in a bear market.
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on Monday, June 02, 2008 at 6/02/2008 03:10:00 PM.
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