The NDX and QQQQ are bouncing right where they should. We need follow-through. But a high volume reversal day on all indices is a welcome sight for the bulls. The SPX is retesting the March low and may make another attempt if it decides to go higher eventually. As discussed in the Swing Chart post yesterday, we need a move of several days strung together which is followed by fewer days down while holding the low of today.
Charts courtesy of Stockcharts.com
The NDX chart bounced at the 50/50 point. The QQQQ chart bounced off the 1:1 ascending Gann Angles.
Post Modified: July 2nd, 2008 at 11:20 pm
Tags: Gann Angle Fan · Nasdaq Charts · QQQQ · Standard and Poor's 500 (S&P500) · Swing Charts · Volume1 Comment
1 response so far ↓
bounce shmounce. …
pay-roll and ecb tomorrow. put your seatbelts on.