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Fannie Freddie sent market down??

5 min Emini Nasdaq 100

Hi,

There were some optimism about the government bailing out Fannie and Freddie, and price gapped up during the open... however, the gap immediately closed and price moved in short spurts... Look at the candlestick body and how Short-term MACD behaved..

Short-term MACD is basically hugging the zero line.. Moving averages are almost flat... We have no reason to trade.. NO TRADE TODAY!

Posted by Michael Taylor on July 14, 2008 5:37 PM |

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