Open:
NQ finds support around 1918.50 (1919.50 actual, see yesterday's comment) and bulls hope that is it for now. That low was hit 25 mns before the open and we had a retest at the open (1921) so there is a chance it sticks. Watch 1932, weekly S1.
Is DOW 12585 considered close enough for a retest of August lows? SPX seems to have found some support at the December 2000 high of 1489 and an approximate 50% projection of the head and shoulder. These patterns can end there, although we do have 61.8% at 1381. It's all getting mighty close if you ask me.
NQ finds support around 1918.50 (1919.50 actual, see yesterday's comment) and bulls hope that is it for now. That low was hit 25 mns before the open and we had a retest at the open (1921) so there is a chance it sticks. Watch 1932, weekly S1.
Is DOW 12585 considered close enough for a retest of August lows? SPX seems to have found some support at the December 2000 high of 1489 and an approximate 50% projection of the head and shoulder. These patterns can end there, although we do have 61.8% at 1381. It's all getting mighty close if you ask me.
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on Wednesday, January 09, 2008 at 1/09/2008 09:54:00 AM.
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