Closing half-hour:
Once we dropped, we just stayed there watching paint dry. RUT is sitting right at its 200 dma. Note that TNX found support at 3.78%. The truth is, no one is interested in stepping in here, all the bounces have been shorts covering, and minor at that. NQ support is 1886.25 followed by 1882. I suspect traders are waiting to see what happens at the 50 dma for NDX and QQQQ.
Once we dropped, we just stayed there watching paint dry. RUT is sitting right at its 200 dma. Note that TNX found support at 3.78%. The truth is, no one is interested in stepping in here, all the bounces have been shorts covering, and minor at that. NQ support is 1886.25 followed by 1882. I suspect traders are waiting to see what happens at the 50 dma for NDX and QQQQ.
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on Monday, August 25, 2008 at 8/25/2008 03:37:00 PM.
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