Intraday update:
NQ loses weekly pivot support at 1723 and ES is about to do the same at 1366.50. NQ did find support at 10 dma(1713.50). The internals are pretty ugly, so if NQ loses 1713.50, it could head down to 1701.75, weekly S1 and where I think we will find strong support. But first wait and see if we hold the 10 dma, which is also close for ES (1364.25). Gold drops along with crude, but finds support at 20 dma (589.20). The dollar is down, so if crude finds a base here at the pivot (59.40), YG should be able to hold its 20 dma. Right now trading at S2 (591).
This is option expiration week, so things could get volatile.
NQ loses weekly pivot support at 1723 and ES is about to do the same at 1366.50. NQ did find support at 10 dma(1713.50). The internals are pretty ugly, so if NQ loses 1713.50, it could head down to 1701.75, weekly S1 and where I think we will find strong support. But first wait and see if we hold the 10 dma, which is also close for ES (1364.25). Gold drops along with crude, but finds support at 20 dma (589.20). The dollar is down, so if crude finds a base here at the pivot (59.40), YG should be able to hold its 20 dma. Right now trading at S2 (591).
This is option expiration week, so things could get volatile.
This entry was posted
on Tuesday, October 17, 2006 at 8:28 AM.
