Wednesday, June 18, 2008

Anyone's game

Future's look set for a weak open, but it still isn't clear who has the edge. The last few days have seen low volume action on both the bull and bear side. The 50-day and 200-day moving averages look to be the watch point for tech and small cap indices

The small caps are getting squeezed between the 50-day and 200-day MAs; as TraderMike calls a "no-mans" land of trading.

While Large caps have the issue of January/March lows to look down to, and the 50-day MAs above:

The S&P has a little wiggle room at April-May lows:

Tech averages climbed into "No-mans" land; the March-May support trendline long since gone:

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website