Pre-open (2):
That ISE equity yesterday is the kiss of death, too many believers. As mentioned in last night's post : "if NQ loses 2054.25, support is 2043.75, 2038 and 2034.75". Keep those numbers up there as well as the resistance levels. For ES, the May 30 high of 1407 is resistance, support is 1393.50 and 1389.
The set-up is simple: unless ZN (ten year bond futures) gets well below 114'060 and holds it on an hourly basis, bears should stay in charge.
That ISE equity yesterday is the kiss of death, too many believers. As mentioned in last night's post : "if NQ loses 2054.25, support is 2043.75, 2038 and 2034.75". Keep those numbers up there as well as the resistance levels. For ES, the May 30 high of 1407 is resistance, support is 1393.50 and 1389.
The set-up is simple: unless ZN (ten year bond futures) gets well below 114'060 and holds it on an hourly basis, bears should stay in charge.
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on Friday, June 06, 2008 at 6/06/2008 09:00:00 AM.
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