It's going to be a nasty open. NQ has fallen below weekly S2, ES has dropped 20 dma. Remember that QQQQ July 2005 low is at 36.54. It is a must hold for bulls, or the crash scenario is not out of the question. The Feds have obviously gone too far from the looks of the unemployment numbers and earnings overall. Now the consumer is hit with a very serious rise in oil prices. Bernanke should come out with a pre-emptive rate cut. But he won't, since those folks never admit to being wrong.
This entry was posted
on Thursday, July 13, 2006 at 6:17 AM.
