Closing hour:
The short side is getting too crowded. If NQ closes above 1962.50, 50% Oct/Mar, bulls could swing this around for now. Numerous attempts to break the 50 dma to the downside failed, mostly because of the op-ex 48 pin. Respect the tape and take your money when it comes. Another break below YM 12K and NQ 1955 would put the bears back in charge. NQ has 5 dma resistance at 1971.50.
The short side is getting too crowded. If NQ closes above 1962.50, 50% Oct/Mar, bulls could swing this around for now. Numerous attempts to break the 50 dma to the downside failed, mostly because of the op-ex 48 pin. Respect the tape and take your money when it comes. Another break below YM 12K and NQ 1955 would put the bears back in charge. NQ has 5 dma resistance at 1971.50.
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on Wednesday, June 18, 2008 at 6/18/2008 03:10:00 PM.
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