Sufficient Momentum?
The Qs are roughly flat as we
approach midday, having teetered between
hourly support and daily resistance for much of the early hours. I view the
afternoon and Monday as critical in determining whether the bullish momentum is
sufficient to propel the Nasdaq futures beyond 1500 and the SOX back above 600.
Two keys I’m focusing on as the afternoon approaches are:
- Which side of the 13-minute trend support do
the Qs base? - How much momentum is left in the hourly time
frame based on a stochastic which is close to vertical?
Friday March 22,
2002 12:00 P.M. ET
Good Trading and
Have a Great Weekend!