WASHINGTON (MarketWatch) -- U.S. consumer sentiment improved in June as gasoline prices moderated, according to media reports of proprietary research from the University of Michigan.
That says it all. Gasoline is going up, so the consumer is expected to change his tune as the summer rolls on. There is no doubt that oil is hurting the follow-through for techs, but if NQ can hold on to 1595, it has a chance of closing higher. Again, watch NDX 1590, the 20 month MA. It is key for bulls to close June above it. Right now, QQV working in favor of such a scenario, but not TRINNQ or VXN. Biotechs are holding up the Q's right now.
This entry was posted
on Friday, June 30, 2006 at 10:58 AM.
