Tuesday, October 11, 2011

NDX Heavyweights at Resistance

AAPL and GOOG are running into resistance here, closing right below it as I type.

AAPL resistance @ 404
GOOG resistance @ 550

These two darlings are the engine of the NDX: 12% and 6% respectively. If they run out of steam here, pullback is in order. We are to monitor closely.

I have been waiting for a pullback to buy. It is a total bear-frying fest out there. No credible pullbacks for bulls either. I am a patient trader, I will wait...

Looking for SPX and NDX futures gaps:

ES - 1155.75
NQ - 2204.50

With today's top @ 1199, SPX cash 50 fib comes in @ 1137. This would also correspond to ES WP @ 1132.50 Looking for that as well... (in my little perfect world :))

Waiting, and waiting, and waiting...

Go Slovakia!! Give me my pullback. What a joke! LOL

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