The immediate trading picture will be the July 3rd gap for NQ which is not yet closed (1601.75). If that gap gets closed and we don't correct lower than 1590, it will set up an attack on 1620/1625 (see my earlier NQ post). ER is in the same predicament, July gap 3rd close is 736.50. It's interesting to see how far back techs are lagging from the broader market. I am bullish on techs for next year, but for now, use them as your guiding light as to the general health of this market short term.
This entry was posted
on Monday, September 04, 2006 at 8:23 AM.
