Let's call this the Greenspan stop run bounce (he's making sure he gets those speaking engagement fees). Oil is back up above 61, with a double bottom at pivot and equities are still rallying even though the opening news was pretty lame. Normally, these events lead to a down day at the close but frankly, no one knows anymore how any day will finish. ES 1389.50 is still resistance with an overthrow at 1390.50, 61.8% today. Above that, they will go for the overnight highs at 1393.75.
This entry was posted
on Thursday, October 26, 2006 at 9:48 AM.
