We already may see on ETFs that Nasdaq 100 (QQQQ and NQ) will be a little bit behind. I would not bet on this swing and would not try to play bullish signals that could be followed by that swing. Because of the side-way trading, many technical indicators, especially on lower time-frame charts are undefined and not clear - I would wait or at least half of hour after opening.
Tuesday, November 2, 2010
Indexes Up
Index E-mini futures and index tracking ETFs are up. Most likely the indexes will open up as well. Friday's drop in volatility known in technical analysis like "Market Squeeze" which is usually noted before strong swings like we going to have today at the market opening.
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