8.24.2007

PRE MARKETS


Markets are set to open near the unchanged levels on the heels of the good durable numbers just released. The fly, will the Fed cut if the econ numbers continue to out perform?


Anyhow, checking the technicals on the SPX- resistance at the 1,460 give or take number as it is the 50% retracement from the low at 1,370 and the high at 1,559. Not surprisingly, it is also near the 200 day SMA.
Next area of resistance assuming we can escape the 1,460 level and move higher- 1,500- which was touched on the last bounce after the initial market sell off.
Some interesting 2 day RSI levels:
SPX 84
OEX 94
DJIA 88
MID 66
RUT 40
SMALL GROWTH 55
SMALL VALUE 46
LARGE GROWTH 93
LARGE VALUE 84
NDX 76
Volatility indexes at very over sold levels and most trading about 17% below the 10 day SMA.
VIX 16.6% below
VXD 18.6% below
VXO 16.8% below

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home