A short covering spike closes the NQ and ES gaps. YM is still lagging, resistance is 12668. ES pulled back from 1454.75 and if short that one, your stops should be no higher than 1456.50, conservative traders should have it at 1455.25. CBOE equity pc ratio dropped to .56, so dip buyers were all over this pullback. This could have been a gift if you were not yet short, but watch NQ 1823 and ES 1454.50.
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on Thursday, February 08, 2007 at 2/08/2007 03:20:00 PM.
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