Morning update (2):
Oil still holds 131, but lost 134. NQ dropped to its 50 dma, but the COMP has important support at 2425, which it held for now. As mentioned earlier, ISE equity is very low, slipping below 1 all morning. This usually sets up short squeezes. For now, AD lines are very negative and bears are in charge, especially below NQ 1964.75 and 1962.50. Book some profits if short, remember, this is op-ex.
Oil still holds 131, but lost 134. NQ dropped to its 50 dma, but the COMP has important support at 2425, which it held for now. As mentioned earlier, ISE equity is very low, slipping below 1 all morning. This usually sets up short squeezes. For now, AD lines are very negative and bears are in charge, especially below NQ 1964.75 and 1962.50. Book some profits if short, remember, this is op-ex.
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on Wednesday, June 18, 2008 at 6/18/2008 11:19:00 AM.
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