COMP is stretching its legs as late June produced a bullish cross of 10 day ema and 20 dma. Target there should be 50 dma at 2205, but if it comes with 20 dma this far away, I would par down positions. 50% is 2220 and with 200 dma not far above that, the whole zone between 2200 and 2220 could be a brick wall. As mentioned earlier, SPX is trading above 50 dma (1275), in large part due to energy stocks.
This entry was posted
on Monday, July 03, 2006 at 8:06 AM.
