Market Analysis for Mar 22nd, 2005
For today's Mid-Day Minute, Mike writes: After about 90 minutes of trading,
the Qs tried and (so far) failed to
hurdle critical resistance between
36.75 and 36.90, which is "required"
to trigger additional strength. However.
ahead of the FOMC, we should not
expect much fireworks in either
direction. Purely from a technical
perspective, if there were no FOMC
meeting today, my work argues for
more upside backing and filling ahead
the next downmove (which is not a
good reason to be long ahead of
FOMC announcement at 2:15 PM ET.
MJP 03/22/05 11:10 AM ET 36.63
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