In addition too the 'Support & Resistance Report' spreadsheet,
Nightly observations are offered on the QQQQ that are relevant for the next day's trade.
Here is a portion of Monday night's comments:
"For Tuesday, it will be important, in the short-term, for the low of mid-April ($41.39) to provide Support. If it does not, the door opens to a test of Support at the low of late March ($40.82)...See the dashed gray lines on the Daily Chart.
It will also be important, in the intermediate-term, for Monday's considerable area of "Gathering Support" that was violated by the late day sell off, to be re-established as Support, if not tomorrow, then sometime this week or next.
That's because Monday's area of "Gathering Support" included two individual aspects of Support that are "heavy-duty" in their own right, namely the "50-Day Moving Average" and the "20-Week Moving Average".
It's never good for a stock to spend too much time below either one of those two important aspects of Support. In fact, if the QQQQ rises to find Resistance at them in Tuesday's trade, I would not nurture thoughts of going long."
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The "20-Week-Moving Average" stands at $41.56 going into Tuesday's trade.
The "50-Day Moving Average" stands at $41.61.
Buy at Support
Sell at Resistance
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