Morning update:
As expected, consumer confidence is in the tank. OEX drops 594. Pay attention to the yield on the ten year at 4.10%, an area of strong support (if you are trading bonds). That could be the low on TNX ahead of the Fed tomorrow.
The DOW is right at 11750, the old 2000 high. SPX lost 1310, an important level.
If NDX breaks to new lows, the April gap below is 1841/1892. NQ resistance is 1910. Bulls get it back above 1919.25.
As expected, consumer confidence is in the tank. OEX drops 594. Pay attention to the yield on the ten year at 4.10%, an area of strong support (if you are trading bonds). That could be the low on TNX ahead of the Fed tomorrow.
The DOW is right at 11750, the old 2000 high. SPX lost 1310, an important level.
If NDX breaks to new lows, the April gap below is 1841/1892. NQ resistance is 1910. Bulls get it back above 1919.25.
This entry was posted
on Tuesday, June 24, 2008 at 6/24/2008 10:26:00 AM.
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