Wednesday, September 10, 2008

Exchanges - Could they be bottoming?

NYX broke below support, will this sucker in a few shorts and then rip higher? I would wait and find out before getting in.

ICE has pulled back in between the 20 and 50 DMA, its do or die from here. I am tempted to buy with a 90 stop. Cup and handle? Only if the handle doesn't break!

CME is still in very tight range, easy to buy at the bottom and exit if it breaks. If CME does not gain any support here, time will wear it down to the downside.