11.14.2007

CLOSING FACTS


Funny how those number and charts work, definitely worth watching for short term price action.


SPX- Climbed early to resistance area at 1,490 and rejected at least 3X during the day. The 200 day SMA at 1,484 was next and that didn't hold as we closed below the 50% FIB retracement - 1,474. Pivot at 1,468 tagged at/near the close. CLICK ON CHART.


DJIA- Opened near the 50% retracement at 13,360 - rejected, and a few minutes before the close fell through the 200 day SMA at 13,225 and tagged the pivot at 13,200.


IWM - also rejected at the 50% retracement a hair above 79 and back to the 61.8 retracement near 77.6.


NDX- opened at the highs and gave back about 60 points as it was in free fall all day along with big cap tech.


And its "apparently" official, AROD is back in the Bronx.

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