The Bounce Is Aging, But The Depression Is Young
By Bob Prechter
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0710.ET
Far East Markets are Up some while Europe is mixed-Flat . . . the US Markets/Futures are Down Slightly.
QQQQ/SPY are currently Trading at 43.44 / 109.37
QQQQ Resistance is at 43.75, then 43.8x
QQQQ Support is at 43.17, then 42.90, then 42.6x
There are a few Economic Events out this morning starting at 0745.ET . . Retail Sales numbers followed by some Treasury Auctions and Fed Speakers . . . not much to affect price action once a Trend is established after the Open.
It’s not looking like there’s any follow through for the Open after yesterday’s Big run higher … good news for this Bear! . . . depending on the Retail Sales numbers, I am expecting a slight rise at the Open followed by some Down movement . . . watching for Signals at the start of an intra-day Trend that will tell us how Strong it might be. (how long it might last)
AMC Commentary
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