Morning update:
ES is back above 1228, let's see if that holds. NQ has resistance at 1755.75, 9/10 high.
Don't fall in love with a crash scenario, so far it looks unlikely. We have had multiple TRINNQ reads of +4 recently and that can't last forever. We are still playing with the op-ex week projected trading range of QQQQ 42 to 45/46 until proven otherwise. Hedge funds are hungry trying to make up for lost money by heavily shorting the markets. It makes rallies hard to hold, so even though the overnight lows held, pay attention to price support and especially those AD lines. They must start moving below -2000.
Oil will attempt a midday rally, resistance is 97.75.
Looking back at all those monster bonuses wall street was paying itself last year at your portfolio's expense makes you realize there was an indicator there as well.
ES is back above 1228, let's see if that holds. NQ has resistance at 1755.75, 9/10 high.
Don't fall in love with a crash scenario, so far it looks unlikely. We have had multiple TRINNQ reads of +4 recently and that can't last forever. We are still playing with the op-ex week projected trading range of QQQQ 42 to 45/46 until proven otherwise. Hedge funds are hungry trying to make up for lost money by heavily shorting the markets. It makes rallies hard to hold, so even though the overnight lows held, pay attention to price support and especially those AD lines. They must start moving below -2000.
Oil will attempt a midday rally, resistance is 97.75.
Looking back at all those monster bonuses wall street was paying itself last year at your portfolio's expense makes you realize there was an indicator there as well.
This entry was posted
on Monday, September 15, 2008 at 9/15/2008 10:34:00 AM.
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