Feds were no help and the overly optimistic market got spanked. Crude oil added insult to injury, breaking above 50 dma resistance and hitting 66. When things get bad, I like to pan out to the COMP daily. So far, nothing alarming yet as it holds on to 10 day ema and March trendline support. Today's lows must hold in order for bulls to show they still mean business. Remember that we still have end of month / end of quarter window dressing and that could be supportive. In a rising rate environment, if you must go long I suggest you stick to techs and small caps.
This entry was posted
on Tuesday, March 28, 2006 at 8:15 PM.
