Thursday, November 22, 2007

Today's Markets

Actually, it's yesterday's markets because all of this happened, well, yesterday. Also, this is going to be a short post. I'm working on a longer post next which will give some more overall detail about what is going on in the markets.

The SPYs are in a short-term downtrend. The index is making lower highs and lower lows. Also note that traders are engaging in heavy end of day selling before the long weekend, indicating there is concern and/or nervousness before the holiday.

The QQQQs are still in a general trading range, looking for somewhere to go.

Again -- I've got a much longer post that I'll put up on Friday morning. Until then, have a good Thanksgiving.