There are numerous gaps to fill below: NQ 1506, YM 10324 and ES 1196.50. NDX is below 200 day moving average again and the DOW lost the 50 day moving average at the close. The drop in oil did not help in the end. Let's face it: 57 oil is still a burden. We need to do more backing and filling at best. At worst, we head to new lows. Should oil break below 57, the bearish scenario at the open is negated. But gaps get filled sooner or later and I'm betting on one soon.
This entry was posted
on Wednesday, June 29, 2005 at 4:34 PM.
