Greenspan and his new friends at Pimco managed to keep their mouths shut in the final hour and we had a strong closing rally, pushing the COMP above key resistance at 2580. There was a heads up earlier with SMH (semi-conductor holders) which definitely got the ball rolling for bulls. It is going to take some really bad news from PPI tomorrow to completely crash this party. Even the TRAN did a push to 5080, although that index is not in the clear until we get a close above 5125.
This is still option expiration week and they might be trying to pin QQQQ 47, so be careful tomorrow. NQ needs to hold 1929/1933. Resistance is at 1940, 10 day moving average.
This is still option expiration week and they might be trying to pin QQQQ 47, so be careful tomorrow. NQ needs to hold 1929/1933. Resistance is at 1940, 10 day moving average.
This entry was posted
on Wednesday, June 13, 2007 at 6/13/2007 08:10:00 PM.
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