Monday, April 02, 2007 12:07:15 PM
Any good news? ISM # was weaker than anticipated, so now we are seeing market pulling back after the report.
http://biz.yahoo.com/rb/070402/markets_stocks.html?.v=8
Like I am looking for a directional confirmation, many are either with short or in cash looking for a directional confirmation. Of course, I was expecting a "Breakout Retest" Scenario, but as we heard eco #, it wasn't encouraging. However, the "Breakout Retest" scenario is not negated as of now.
Qs and SPX, trading above the supports which I commented during the last week. As noted, breaking the support is bearish. Market is trading with the Triangle formation as S/R as shown on 60m charts.
At this point, I remain cautious.
http://biz.yahoo.com/rb/070402/markets_stocks.html?.v=8
Like I am looking for a directional confirmation, many are either with short or in cash looking for a directional confirmation. Of course, I was expecting a "Breakout Retest" Scenario, but as we heard eco #, it wasn't encouraging. However, the "Breakout Retest" scenario is not negated as of now.
Qs and SPX, trading above the supports which I commented during the last week. As noted, breaking the support is bearish. Market is trading with the Triangle formation as S/R as shown on 60m charts.
At this point, I remain cautious.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
