Monday, October 26, 2009

Overnight action should be weak

Past couple of trading days we've had stronger markets overnight, I think a gap down is coming as investors fear the market being up too much despite horrible fundamentals.  Technical damage has been done by breaking 1072 on the ES and now we're churning below those levels right above support at 1062.  Once 1062 goes, look for the 50 day MA at around 1050 SPX, or ES at 1054 to provide support.

1 comment:

Soong said...

hail~ joe.

Im soong.LOL