Despite the media hype, as long as ES stays below 1316, YM below 11390 and NQ below 1695, bulls are not back in full control. SOX is struggling, but financials making a comeback of sorts on the heels of the Morgan Stanley news. ES can't keep a 50% retrace going for long at this point in the day. Techs are looking weak once again, raising the red flags. My guess is more consolidation in the days ahead. There's a lot of money at stake so expect some press releases to the effect that the MSFT news is no big deal, so watch yourself if short.
This entry was posted
on Wednesday, March 22, 2006 at 11:40 AM.
