Intraday: I profiled SPX 1315 and ES 1323.50 last night, well we hit SPX 1314.07 and ES 1324 (pre-open) and promptly sold off. QQQQ also hit that call resistance at 43 I mentioned and we are selling there as well. SOX has confirmed resistance at 525 and is now even moving below 50 dma. The good news was all priced in, now we need to see some earnings justify all this. Watch the NQ gap close at 1754.75, it could produce a bounce, but I think SPX 1315 is pretty much a brick wall for now. Should the gap close not hold up NQ, next support is 1745. But so far, bulls still holding up techs, ES was the better short.
This entry was posted
on Friday, April 07, 2006 at 7:05 AM.
