Strong move for ES and YM, but the SOX is lagging thanks to INTC. The news seems to have been pretty much priced in for TXN and it looks like the NQ short is the better performer today. I'm glad I used a wide stop for ES. Energy stocks giving it a surprise boost. However, I notice very optimistic pc ratios for SPX next week, indicating too many bulls on the same side. That could spell some trouble. Bottom line: do not trust rallies that don't include the SOX. There was a key failure yesterday for that index at 480.55, 61.8% 2004 H/L.
This entry was posted
on Friday, September 09, 2005 at 7:58 AM.
