Wednesday, February 14, 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.
You can see that all three markets have broken above resistance on wide range up bars after Bernanke's testimony this morning. This means that the reaction which began last week is over and that the S&P's are headed up to 1470, the Spiders to 146.80 and the Q's to 45.60.
The low of this morning's opening hour is now support and I think all three markets will stay visibly above that level for the rest of the day.