Naz Dogs Still At The Pound
Nasdaq 100 futures
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PowerRating) have gone from bad to worse
after closing on their lows Thursday. The September contract has registered on
the New 10-Day Low List
for the past three days and has obliterated all of the base-building constructed
over the past six weeks. The contract also filled the gap left on June 1.
Currently, the Nasdaq 100s are reacting to the downdraft and have pumped above
an intraday ascending triangle and established short-term support at 3570.
A much higher-than-expected Q2 GDP figure, +5.2%, is a little
stronger than the bond market was expecting and treasury futures are falling
from three-month highs. A Turtle Soup Plus One
Sell signal hinted that the Sep T-bond futures could sell off and the
contract is down 11/32 to 98 19/32, making good on the signal.
Going the other way, dollar index futures
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PowerRating) are
responding positively to the stronger-than-expected GDP data, rallying .76 to
109.32 and making good on both Momentum-5
and
New 10-Day High readings.
Falling to a contract low, the Japanese yen
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PowerRating) is
down .0041 to .9195 and making good on a
Implosion-5 List
signal.
Continuing its awesome run, October sugar
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SBV0 |
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PowerRating) is
making it eight for 10, and making good on its Momentum-5
List, adding another .13 to 10.91.