Monday, June 16, 2008

Indices are Down on Monday Morning

The DJIA is down over 90 points, the S&P is down over 7 points, the Nasdaq is down over 10 points and the Russell is down just over 2 points. Watch the S1 and S2 support levels on Friday's large white candle to see if the Thursday/Friday rally fizzles and prices fall below support or if there is a continuation with a bounce off of short-term support. Oil is rising up over $3.80 in early trading. AAPL is down falling below the May 22 double top low and the hammer pattern does not yet show signs of confirmation. Monday Morning Action: Moving Up: DECK, USO, RIMM, POT, FSLR, AGU, BIDU, DRYS Moving Down: PCLN, ESRX, SCHN, AAPL, CLF, IBM

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