Thursday, February 08, 2007
S&P's, Spiders, and QQQQ's
Here are hourly charts of the March S&P futures, the Spiders, and the QQQQ's. I last commented on these markets here.
In this morning's guesstimate I said that I expected the S&P's to hold support at 1449 and the Spiders to hold support at 144.40. So far both markets have held support and I think that both will move to the indicated upside targets after some more sideways action.
The Q's are starting to act stronger than the S&P's and Spiders. I expect this situation to continue and think the Q's will hold support at the low of yesterday's breakout bar.