Friday, March 30, 2007 9:07:27 AM
Premarket action to 8:30am Eco number is relatively flat and mute, but the initial reaction was to upside since, as noted yesterday, market bias was to upside with intraday oversold condition. I monitor Qs for market direction since market relatively - SPX, DOW and NAS - moves in syn.
Qs resistance as shown on the 60m chart is around 44 and support at 43.50-43.30 +/- which were the supports yesterday to continue upside momentum. Market will react to 10am Eco #.
Comment on DNDN: DNDN is hot stock this morning with a news - up 250%. It has about 30% short interest.
SMH closed at 200dma at support and at lower LT trading range with 33 as a major support; therefore, it is good to watch for a directional confirmation.
Best of luck to ALL
Qs resistance as shown on the 60m chart is around 44 and support at 43.50-43.30 +/- which were the supports yesterday to continue upside momentum. Market will react to 10am Eco #.
Comment on DNDN: DNDN is hot stock this morning with a news - up 250%. It has about 30% short interest.
SMH closed at 200dma at support and at lower LT trading range with 33 as a major support; therefore, it is good to watch for a directional confirmation.
Best of luck to ALL
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