Closing hour:
Even though indices are in the green, the action is becoming increasingly bearish as the dollar loses ground and oil is back at 134.50. NQ sold off at weekly pivot (1958.50). If bulls can't close NQ above 1941, this little rally is over for the week. Resistance is back at 1952.
Big comeback for gold after hitting a low of 873, back at 888. Obviously, traders felt that the Feds were not tough enough on inflation in their wording.
RIMM and ORCL after hours will provide some excitement.
Equity ISE hit 200 this morning, all that optimism should get crushed soon.
Even though indices are in the green, the action is becoming increasingly bearish as the dollar loses ground and oil is back at 134.50. NQ sold off at weekly pivot (1958.50). If bulls can't close NQ above 1941, this little rally is over for the week. Resistance is back at 1952.
Big comeback for gold after hitting a low of 873, back at 888. Obviously, traders felt that the Feds were not tough enough on inflation in their wording.
RIMM and ORCL after hours will provide some excitement.
Equity ISE hit 200 this morning, all that optimism should get crushed soon.
This entry was posted
on Wednesday, June 25, 2008 at 6/25/2008 03:36:00 PM.
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