Today: The Nasd futures were able to print the 19 handle yesterday, however,
since then we have backed off just a bit, and the upside momentum is beginning
to slow. This morning I would use the 1886.00 level as a pivot for direction. If
above, there is light resistance at 1888.75, and then the next feature is the
1900.75 high. Below the 1886.00, and there is support at 1883.75, but if we
manage through, and get below 1878.25, things begin to soften up rather quickly.
For the time being though we are in buystalk mode, and are maintaining a bullish
bias, I just am wary of a slow down in momentum, because the bears will come in
and give it a shot I think if we see weakness.
Nasdaq 7-28-2010
July 28th, 2010 by admin Leave a reply »
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