The NQ low at 1536.75 came very close to weekly S2 and could be it, especially if SOX 425 holds. My concern is still ES and that gap, but since it came very close to its weekly S1, it could have put in a bottom today. TRINNQ (Nasdaq) is not as bearish as the Advance Decline line and could signal the worst is over. I expect a monster rally any day, right into the 4th. I could be wrong of course, but it seems the bad news is getting thoroughly priced in.
This entry was posted
on Wednesday, June 28, 2006 at 10:26 AM.
