Exposing Ideas to the Envelope of Serendipity

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Tuesday, June 14, 2011

/NQ Surfing

I'm focused on the /NQs this morning, with the morning run-up now confronting short-term resistance. Persuasive progress above the channel and horizontal back-test resistance could turn the tide for the very near-term at least. Note that the $NDX tested significant support at its 200-day SMA on Monday and closed above it, and is quite technically oversold. It's certainly too soon to be raising flags in Pamplona, but it may be time for bears to get a little defensive. Stay tuned.

Trade well.

-- Brinkley
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