NQ holds on to the 20 dma and QQQQ to the May lows following the positive news on factory orders. But the bid in oil is hurting any chances of seeing a strong reversal at this point. VXN and QQV back up for a test of respective 10 day ema's. If it holds as resistance, stocks could have at least found a base. For daytraders, this still remains a day to short rallies. Watch NQ 1579/1580 for heavy resistance at this point.
This entry was posted
on Wednesday, July 05, 2006 at 7:18 AM.
