The es and nq had intial bounce right off the open which was sold. The indexes went in straight line to test their overnight lows. The es and nq held which lead to a bounce off the very short term oversold levels. Not surprise that XRT, IYT had strong bounces being so oversold. The smh broke the 105.40 area to test the 104.4 area bottoming at 104.75. The XLK broke the 73.25 and bottomed o far at 72.53. AMZN bottomed tight in the 1747 area I mentioned earlier. These are levels to watch. My guess is these levels will be tested and broken in the near future.
Mid day update es/nq 3-25-19
Published
BalsamTrades 