NQ does a slightly higher high with a strong bearish divergence on the 60 mn chart and ends up losing weekly R1 (1825). Unless it moves back above that, the tech bounce could be over, at least for the week. ES double tops and backs down below 1456.25, monthly R1. That one is also proving tough. ADVDEC lines are not telling us much but VXN is showing a bid and that is putting pressure. Not a good day to trade unless you hit extremes. The YM short stays open, now trading below 12700. The bias of the day is slightly bearish, with some noise surrounding QM(oil) gyrations. Small caps are not confirming the early bounce. It can all change, watch NQ 1810 area of support.
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on Friday, February 09, 2007 at 2/09/2007 10:53:00 AM.
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