Marketwise where do we go from here?
Well we have obviously entered sideways
action short term on QQQ,OEX,SPX.
OEX and SPX broke the numbers posted
before. Indexes tested the 40 day ema,
and are now sitting on supports of 1058
for SPX and 536 for OEX. These support
levels are critical to maintain. A break below
and we revisit 487 for OEX and 957 for SPX.
Maintaining these present support levels
and a test past the 40 day ema into
1142 for SPX; 584 for OEX short term.
Next week I would expect will tell the story.
QQQ at this point could go either way,
it's stuck between 33.6 and 30.75.
A break above 33.6 and 36.8 is in the works,
but a break below 30.75 and 27.6 is the result.
All closing day basis.
