NDX update
Close:
NDX ends the day below the July lows, but above its 10 dma. The low of the day was the ex-gap open from March. That's the bullish part. The bearish part is that we closed inside the morning gap. Given that it is an unusually large gap, bulls still win the toss. Note also that gap above that needs to be filled (1833, for QQQQ around 45).
ISE closed way down there, especially the index side. After a brief round of call buying at the open, it was all puts most of the day. I guess folks are trying to short this whatever way they can. I will wait and see before riding that (still) very crowded bearish train.
This entry was posted
on Friday, September 19, 2008 at 9/19/2008 06:56:00 PM.
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