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Bear In The Wings?
Not Just Yet...
http://www.support-resistance-report.com/Encore.html
For Consistently Successful Trades...
Try Some Market Magic:
http://www.support-resistance-report.com/Lamp.html
Producer Price Index (PPI)...
8:30am Friday - The PPI and its relative, the CPI, are closely watched by the markets.
The following web site illustrates why:
http://www.support-resistance-report.com/PPI-CPI.html
TD-Ameritrade now owns the Medved QuoteTracker...
As a result, an unrestricted (and ad free) version of QuoteTracker is available to TD-Ameritrade Account holders, free of charge.
For more information on QuoteTracker, including the download link, click on the following web site:
http://www.support-resistance-report.com/MedvedQuoteTracker.html
I'm ready for the Opening Bell...
Thanks to the Support & Resistance Report .
I'm ready for the Opening Bell...
Thanks to the Support & Resistance Report .
Hi mokew,
Somtimes there's just not enough time in the day
Buy at 'Gathering Support' ... Sell at 'Gathering Resistance'...
Consistently Successful Traders buy at areas of Gathering Support and sell at areas of Gathering Resistance.
Knowing where these areas are located helps them to determine when to buy and when to sell.
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Buy at 'Gathering Support' ... Sell at 'Gathering Resistance'...
Consistently Successful Traders buy at areas of Gathering Support and sell at areas of Gathering Resistance.
Knowing where these areas are located helps them to determine when to buy and when to sell.
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V
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GLD - Chart & Comments...
Thursday's Sell Alert (Day Trade):
http://support-resistance-report.com/AlertGLDgr.html
GLD - Chart & Comments...
Thursday's Sell Alert (Day Trade):
http://support-resistance-report.com/AlertGLDgr.html
QQQQ - Thursday's 5-Minute Chart...
The QQQQ rose in early trade to test Resistance at last week's high ($44.47). After printing a high of $44.40, it pulled back to test Support in the vicinity of $44.00 before closing at $44.02.
Thursday's 5-Minute Chart (below) shows the details.
On Friday, $44.00 represents a pivotal line for the QQQQ. That's because no less than 4 individual aspects of Support/Resistance have converged at that very number.
It may help, therefore, to think of $44.00 as the 50-yard line on a football field. Above that line, the bulls have the edge. Below that line, the bears have the edge...and so it will remain until either the bulls or the bears breakout of the trading range within which the QQQQ has been confined for the last two-and-a-half months.
QQQQ - Thursday's 5-Minute Chart...
The QQQQ rose in early trade to test Resistance at last week's high ($44.47). After printing a high of $44.40, it pulled back to test Support in the vicinity of $44.00 before closing at $44.02.
Thursday's 5-Minute Chart (below) shows the details.
On Friday, $44.00 represents a pivotal line for the QQQQ. That's because no less than 4 individual aspects of Support/Resistance have converged at that very number.
It may help, therefore, to think of $44.00 as the 50-yard line on a football field. Above that line, the bulls have the edge. Below that line, the bears have the edge...and so it will remain until either the bulls or the bears breakout of the trading range within which the QQQQ has been confined for the last two-and-a-half months.
QQQQ - Monday's 5-Minute Chart...
The QQQQ spent Monday splashing beneath it's substantial area of Gathering Resistance.
Monday's 5-Minute Chart (below) shows the QQQQ rising at mid-day to within a stone's throw of Gathering Resistance , then pulling back at the sight of it.
On Tuesday, the QQQQ remains in the dog-house below its 50-Day Moving Average ($44.02), the Middle of the 10-Week Trading Band ($44.00) and a Double-Top Breakout ($44.00) that may be failing.
It will react at 10:00am to the Consumer Confidence Report.
Wednesday, however, will be the big day for economic reports:
1) 8:30am - Fourth Quarter GDP
2) 2:15pm - FOMC Decision on Interest Rates
Both reports will be market movers.
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button:
QQQQ - Monday's 5-Minute Chart...
The QQQQ spent Monday splashing beneath it's substantial area of Gathering Resistance.
Monday's 5-Minute Chart (below) shows the QQQQ rising at mid-day to within a stone's throw of Gathering Resistance , then pulling back at the sight of it.
On Tuesday, the QQQQ remains in the dog-house below its 50-Day Moving Average ($44.02), the Middle of the 10-Week Trading Band ($44.00) and a Double-Top Breakout ($44.00) that may be failing.
It will react at 10:00am to the Consumer Confidence Report.
Wednesday, however, will be the big day for economic reports:
1) 8:30am - Fourth Quarter GDP
2) 2:15pm - FOMC Decision on Interest Rates
Both reports will be market movers.
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button:
QQQQ - Friday's 5-Minute Chart...
After printing a new low for the week at $43.29, the QQQQ recovered from that low and spent the remainder of the day within a 30-cent trading range.
Friday's 5-Minute Chart (below) shows the details of a day in which the QQQQ neither rose to an area of Gathering Resistance nor fell to an area of Gathering Support.
On Monday, the QQQQ remains in the dog-house below its 50-Day Moving Average ($44.01), the Middle of the 10-Week Trading Band ($44.00) and a Double-Top Breakout ($44.00) that may be failing.
As long as the QQQQ remains below what is now an area of Gathering Support beginning at $44.00 and extending to $44.10 (for Monday's Trade), the bears retain an edge and a test of the low end of the two-and-a-half month trading range ($43.00 - $42.52) remains in the cards.
A capture of the 5-member area of Gathering Resistance between $44.00 and $44.10, however, would suggest that the bulls have the ball and are running with it.
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button.
A list of individual aspects of Support & Resistance that converge to form areas of Gathering Support and Gathering Resistance may be found here: Individual Aspects of Support & Resistance
QQQQ - Friday's 5-Minute Chart...
After printing a new low for the week at $43.29, the QQQQ recovered from that low and spent the remainder of the day within a 30-cent trading range.
Friday's 5-Minute Chart (below) shows the details of a day in which the QQQQ neither rose to an area of Gathering Resistance nor fell to an area of Gathering Support.
On Monday, the QQQQ remains in the dog-house below its 50-Day Moving Average ($44.01), the Middle of the 10-Week Trading Band ($44.00) and a Double-Top Breakout ($44.00) that may be failing.
As long as the QQQQ remains below what is now an area of Gathering Support beginning at $44.00 and extending to $44.10 (for Monday's Trade), the bears retain an edge and a test of the low end of the two-and-a-half month trading range ($43.00 - $42.52) remains in the cards.
A capture of the 5-member area of Gathering Resistance between $44.00 and $44.10, however, would suggest that the bulls have the ball and are running with it.
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button.
A list of individual aspects of Support & Resistance that converge to form areas of Gathering Support and Gathering Resistance may be found here: Individual Aspects of Support & Resistance
QQQQ - Thursday's 5-Minute Chart...
The QQQQ closed back below the combination of its 50-Day Moving Average and the Middle of the 10-Week Trading Band on Thursday and did so on increasing volume.
Thursday's 5-Minute Chart (below) shows that the sell off in the QQQQ was stopped only by the day's area of Gathering Support between $43.58 and $43.60.
On Friday, the QQQQ is back in the dog-house below its 50-Day Moving Average ($44.00) and the Middle of the 10-Week Trading Band (also $44.00). That puts Wednesday's rally in the category of "giant head-fake". It also makes a test of Support at the lower end of the 2-month trading range ($43.00 - $42.52) more likely.
Rising interest rates are given the blame for Thursday's weakness. The Weekly Chart of the QQQQ (on display at my StockCharts.com web site) shows the relationship between long-term interest rates and the QQQQ (Comments regarding the relationship appear below the chart).
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button:
QQQQ - Thursday's 5-Minute Chart...
The QQQQ closed back below the combination of its 50-Day Moving Average and the Middle of the 10-Week Trading Band on Thursday and did so on increasing volume.
Thursday's 5-Minute Chart (below) shows that the sell off in the QQQQ was stopped only by the day's area of Gathering Support between $43.58 and $43.60.
On Friday, the QQQQ is back in the dog-house below its 50-Day Moving Average ($44.00) and the Middle of the 10-Week Trading Band (also $44.00). That puts Wednesday's rally in the category of "giant head-fake". It also makes a test of Support at the lower end of the 2-month trading range ($43.00 - $42.52) more likely.
Rising interest rates are given the blame for Thursday's weakness. The Weekly Chart of the QQQQ (on display at my StockCharts.com web site) shows the relationship between long-term interest rates and the QQQQ (Comments regarding the relationship appear below the chart).
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button:
QQQQ - Wednesday's 5-Minute Chart...
The QQQQ gapped up at the open on Wednesday and after doing battle for more than an hour with Gathering Resistance at $44.00, Resistance was captured which opened the door to an impressive rally.
Wednesday's 5-Minute Chart (below) shows the struggle with Gathering Resistance at $44.00, the eventual capture of that Resistance and the subsequent rally that proved strong enough to capture the day's second and less imposing line of Gathering Resistance at $44.17.
On Thursday, the QQQQ may present traders with another gap-up open based on favorable reaction to several earnings reports that were published after the market closed.
Wednesday's recapture of Resistance at the 50-Day Moving Average ($43.98) and the Middle of the 10-Week Trading Band ($44.00) represents a short-term positive for the QQQQ.
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button:
QQQQ - Wednesday's 5-Minute Chart...
The QQQQ gapped up at the open on Wednesday and after doing battle for more than an hour with Gathering Resistance at $44.00, Resistance was captured which opened the door to an impressive rally.
Wednesday's 5-Minute Chart (below) shows the struggle with Gathering Resistance at $44.00, the eventual capture of that Resistance and the subsequent rally that proved strong enough to capture the day's second and less imposing line of Gathering Resistance at $44.17.
On Thursday, the QQQQ may present traders with another gap-up open based on favorable reaction to several earnings reports that were published after the market closed.
Wednesday's recapture of Resistance at the 50-Day Moving Average ($43.98) and the Middle of the 10-Week Trading Band ($44.00) represents a short-term positive for the QQQQ.
Each day's area of Gathering Support and Gathering Resistance is calculated the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's 'Paste from Excel' Button:
Chart and comments for the QQQQ have been updated in preparation for Wednesday's trade:
http://www.trade2win.com/boards/journal.php?s=&journalid=52477&action=view
Chart and comments for the QQQQ have been updated in preparation for Wednesday's trade:
http://www.trade2win.com/boards/journal.php?s=&journalid=52477&action=view
QQQQ - Chart & Comments for Monday...
http://www.trade2win.com/boards/journal.php?s=&journalid=52477&action=view
QQQQ - Chart & Comments for Monday...
http://www.trade2win.com/boards/journal.php?s=&journalid=52477&action=view
NVDA - Chart & Comments Updated...
Tuesday's Buy Alert for NVDA (Day Trade):
http://support-resistance-report.com/AlertNVDAgs.html
NVDA - Chart & Comments Updated...
Tuesday's Buy Alert for NVDA (Day Trade):
http://support-resistance-report.com/AlertNVDAgs.html
QQQQ - Monday's 5-Minute Chart...
The QQQQ demonstrated severe weakness on Monday by violating yet another significant area of
Gathering Support.
Monday's 5-Minute Chart (below) shows the QQQQ slicing through a 5-member area of Gathering Support that included the 50-Day Moving Average and the Middle of the 10-Week Trading Band, both of which are significant in that they represent intermediate-term aspects of Support.
On Tuesday, it will be important for the QQQQ to capture what is now Resistance at the combination of its 50-Day Moving Average ($43.94) and the Middle of the 10-Week Trading Band ($44.00). That's because many fund managers treat two consecutive closes below either of these two aspects of Support as a "Sell" Signal.
QQQQ - Monday's 5-Minute Chart...
The QQQQ demonstrated severe weakness on Monday by violating yet another significant area of
Gathering Support.
Monday's 5-Minute Chart (below) shows the QQQQ slicing through a 5-member area of Gathering Support that included the 50-Day Moving Average and the Middle of the 10-Week Trading Band, both of which are significant in that they represent intermediate-term aspects of Support.
On Tuesday, it will be important for the QQQQ to capture what is now Resistance at the combination of its 50-Day Moving Average ($43.94) and the Middle of the 10-Week Trading Band ($44.00). That's because many fund managers treat two consecutive closes below either of these two aspects of Support as a "Sell" Signal.
GOOG - Chart & Comments Updated...
http://support-resistance-report.com/AlertGOOGgr.html
GOOG - Chart & Comments Updated...
http://support-resistance-report.com/AlertGOOGgr.html
QQQQ - Friday's 5-Minute Chart...
The QQQQ spent Friday testing Gathering Support between $43.87 and $43.95.
Friday's 5-Minute Chart (below) shows two separate bounces from Gathering Support.
On Monday, the QQQQ is not out of the woods. It must continue to find Support at the combination of its 20-Day and 50-Day Moving Averages whose values are in close proximity to one another at the moment between $43.92 and $43.96 and which are fortified by 3 additional apspects of Support that together form a 5-member area of Gathering Support between $43.91 and $44.00.
Failed Support here would represent a short-term negative for the QQQQ with the potential to give Support at the Spring Peak($43.00) another test (See the Daily Chart ... not shown here).
Each day's area of Gathering Support and Gathering Resistance is calculated the night before:
QQQQ - Friday's 5-Minute Chart...
The QQQQ spent Friday testing Gathering Support between $43.87 and $43.95.
Friday's 5-Minute Chart (below) shows two separate bounces from Gathering Support.
On Monday, the QQQQ is not out of the woods. It must continue to find Support at the combination of its 20-Day and 50-Day Moving Averages whose values are in close proximity to one another at the moment between $43.92 and $43.96 and which are fortified by 3 additional apspects of Support that together form a 5-member area of Gathering Support between $43.91 and $44.00.
Failed Support here would represent a short-term negative for the QQQQ with the potential to give Support at the Spring Peak($43.00) another test (See the Daily Chart ... not shown here).
Each day's area of Gathering Support and Gathering Resistance is calculated the night before:
Buy at Gathering Support ... Sell at Gathering Resistance
Consistently Successful Traders buy at areas of Gathering Support and sell at areas of Gathering Resistance.
Knowing where these areas are located helps them to determine when to buy and when to sell.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Gathering Support ... Gathering Support ... Gathering Support
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Buy at Gathering Support ... Sell at Gathering Resistance
Consistently Successful Traders buy at areas of Gathering Support and sell at areas of Gathering Resistance.
Knowing where these areas are located helps them to determine when to buy and when to sell.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Gathering Support ... Gathering Support ... Gathering Support
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
QQQQ - Thursday's 5-Minute Chart...
The QQQQ sold off in dramatic fashion on Thursday when it opened below Support at its 2006 High and then proved unable to recapture that line.
Thursday's 5-Minute Chart (below) shows that a failed area of Gathering Support often constitutes a sell signal and that when an initial area of Gathering Support fails, it often leads to a test of the day's secondary area of Gathering Support.
On Friday, the QQQQ is back within the arms of its two-month trading range and testing another significant area of Gathering Support that includes as two of its members the 20-Day and 50-Day Moving Averages.
Failed Support here would represent an additional short-term negative for the QQQQ with the potential to turn into an intermediate-term negative (lasting weeks to months).
QQQQ - Thursday's 5-Minute Chart...
The QQQQ sold off in dramatic fashion on Thursday when it opened below Support at its 2006 High and then proved unable to recapture that line.
Thursday's 5-Minute Chart (below) shows that a failed area of Gathering Support often constitutes a sell signal and that when an initial area of Gathering Support fails, it often leads to a test of the day's secondary area of Gathering Support.
On Friday, the QQQQ is back within the arms of its two-month trading range and testing another significant area of Gathering Support that includes as two of its members the 20-Day and 50-Day Moving Averages.
Failed Support here would represent an additional short-term negative for the QQQQ with the potential to turn into an intermediate-term negative (lasting weeks to months).
QQQQ - Wednesday's 5-Minute Chart...
After a sluggish morning, the QQQQ pulled back in the afternoon to test Support at its 2006 High ($44.86).
Wednesday's 5-Minute Chart (below) shows the QQQQ testing Gathering Support of which Support at the 2006 High is a member.
On Thursday, the QQQQ will continue the important test of Support at its 2006 High from which it broke up and out 4 days ago after a two month consolidation beneath it.
A decisive close below Support at the 2006 High would invalidate the breakout of 4 days ago and place the QQQQ back into "trading range" mode.
Economic Reports to which the QQQQ may react are:
1) 8:30am - Consumer Price Index (CPI)
2) 10:00am - Leading Economic Indicators
3) 12:00pm - Philly Fed Manufacturing Survey
QQQQ - Wednesday's 5-Minute Chart...
After a sluggish morning, the QQQQ pulled back in the afternoon to test Support at its 2006 High ($44.86).
Wednesday's 5-Minute Chart (below) shows the QQQQ testing Gathering Support of which Support at the 2006 High is a member.
On Thursday, the QQQQ will continue the important test of Support at its 2006 High from which it broke up and out 4 days ago after a two month consolidation beneath it.
A decisive close below Support at the 2006 High would invalidate the breakout of 4 days ago and place the QQQQ back into "trading range" mode.
Economic Reports to which the QQQQ may react are:
1) 8:30am - Consumer Price Index (CPI)
2) 10:00am - Leading Economic Indicators
3) 12:00pm - Philly Fed Manufacturing Survey
Wonderbuy,
Thanks for that testimonial
Mike