In Search Of…
The Qs are off yesterday’s
lows as we approach midday and are
hovering around hourly downtrend support (resistance on longs) in search of a
longer-term direction. The spike at 11:00 A.M. ET reflects the mirroring of the
Nasdaq futures which surged unexplainably and is currently under review. Given
the unexplained spike and review of the futures trades, waiting for more market
data and trends to normalize may be just the ticket for the moment. The hourly
trend remains down, and keeping your eye on the 5-MA vs. the price will help to
normalize the morning trade.
Tuesday January
15, 2002Â 12:00 PM EDT
Keep in mind that
(
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earnings will be released after the close, so trade may be light until then.
Good Trading!