Just two observations for this morning. At the 0930 ET open, the market treated the ledge that was formed early in the morning as support, and took off to the upside on a test of that support.
Going into the European close, the market tried to form a support bottom near 1107. However, notice how the NYSE Advance - Decline Line kept making lower lows as the futures was trying to bottom. There just was not enough support in the equity market for the futures to stay above 1107. As of this writing, the futures is now at 1105.50.
Charles
No comments:
Post a Comment