Intraday Market Update
Brief drop at the open as the SOX went down and tested 50 dma, but it was all bullish after that as oil dropped and techs jumped right back. SOX is now above trendline again and bulls have the reins for now. There was a VIX divergence at the open, falling as markets dropped, and that was your clue to take a long on the dip. That said, keep an eye on oil for any sign of a rebound and don't be afraid to take profits. Watch NQ 1684, 20 dma resistance.
This entry was posted
on Wednesday, February 22, 2006 at 8:33 AM.
