PM update:
Bonds in the red keep stocks in the green. This could be a pivotal day if SPX can close above 1292/1293. It will also be important to see how NQ behaves under 1930. Above that, we could be setting up an early September rally. The VIX/VXN (chart) divergence is a problem, but we will let price be our guide. Oil is inching its way back up. Equities will probably not go too far until we know for sure that another Katrina is not in the making.
This entry was posted
on Thursday, August 28, 2008 at 8/28/2008 12:57:00 PM.
You can skip to the end and leave a response.
» Post a Comment