SPX is still holding on to closes above the March 2003 trendline and 200 day moving average, but one gets the sense the resolve is fading everytime we get near these levels. QQQQ managed a rally into the close and to hold 76.4% October/January (38.74). There is a glimmer of hope there as we leave these long tails below us on these drops, but again, it is a razor thin proposition. Fear is back and knows no reason as investors dump everything in sight. I suspect many will regret this in a few weeks.
This entry was posted
on Tuesday, June 06, 2006 at 9:06 PM.
