19 March 2007

Buying And Selling

Chart of the cash NDX above (click to enlarge)...again we'll add about 20 points to give us our support and resistance levels on the NQM7 futures that we trade. As you see the 20MA has definitively broken through the 50MA setting up a nice trade if we can touch that descending 20MA looming above @ 1770 (1790 on the NQM7)...the "double bottom" put in last week just looks to easy... any venturing down to those levels should be sold not bought.
So for today...
Any rallies into 1790 on the NQM7 should be sold.
Look to buy pullbacks into 1740-1745.

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