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.
stephenbalsam 1 Minute
Published by stephenbalsam
I have been trading electronic emini futures since they started . I have trained 100s in the method I use. This blog is just informational purposes and TRADE at your OWN risk! View all posts by stephenbalsam