The Games Continue
The S&P and Nasdaq futures
remain in an hourly uptrend as the earnings, analyst and short-squeeze games
continue. The early intraday trade has
been rangebound since the monster gap toward weekly short supports on ES and NQ,
with NQ actually probing north of weekly downtrend support. Range extensions
thus far have been non-existent, with market players looking to battle for
available oxygen at these levels, and intraday pace atrocious, given the drop in
volatility.
Reversal traders can begin to eye any chink on the 13-minute chart over the next
few days which is a prerequisite for a reversal on the four-day squeeze juggernaut.
ES (S&P)Â Â Â Â Â Â Tuesday October 15, 2002Â 11:30 A.M. ETÂ Â Â Â Â Â Â NQ
(Nasdaq)
Moving Avg Legend:
5MA
15MA 60-Min 15MA
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2002 Quote LLC
Good Trading!
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