QM (May oil futures) catching a bid in the overnight session. Resistance is at 62.60, 62.85/62.95 and 63.35. Support is 62.10.
How the markets react to a big oil rally tomorrow (if it happens, and it sure looks that way) is anyone's guess. Again, watch YM 10390, ES 1316, NQ 1695 and yields. My feeling? Today's rally was hedge funds jamming the shorts and they can bail as fast as they came in. Careful out there, folks.
How the markets react to a big oil rally tomorrow (if it happens, and it sure looks that way) is anyone's guess. Again, watch YM 10390, ES 1316, NQ 1695 and yields. My feeling? Today's rally was hedge funds jamming the shorts and they can bail as fast as they came in. Careful out there, folks.
This entry was posted
on Wednesday, March 22, 2006 at 9:16 PM.
