Lots to say about today, big turn around for small caps, SOX bounced back, DOW 11K and oil below 60. Bulls delivered and my feeling that SPX would be bullish this week to whack all those puts sold in December turned out to be correct. NQ faces resistance at 10 day ema (1672), ES at 30 dma (1279) and YM is getting close to making new highs for the year. The weakest link on a relative basis is NQ, so we will keep an eye on the SOX, as usual. Watch ES 1278.75, weekly R1 as well and right now, NQ 1665/1666 support, old gap close and weekly pivot. The setups were numerous during the day and there were plenty of opportunities to get in long and hop on the train. Opex Wednesdays can be a little bearish at times, so play it tight.
This entry was posted
on Tuesday, February 14, 2006 at 6:13 PM.
