Strong Open for Equities

Equities open with a reversal move of Friday. Expect continued volatility but as we said, Thursday’s sharp rebound off the lows which was met with Hedge Fund selling on Friday, is now being tested to the upside once again. We are at some key points early here. On the 240 charts the Fibs and Vwaps both 50 and 100 day are being hit in the Nasdaq and SP respectively (Charts courtesy of CQG):