Support & Resistance Report

[Mr Nasdaq]

Thanks gloe...

I posted those observations on the QQQQ only to look up at my monitor to see a 22 cent spike to today's high, so far, of $41.72.

The QQQQ has since then, pulled back and is currently testing the combinded strenght of the "50-Day MA" and the "20-Week MA" in order to see if they are now willing to serve, once again, as Support.

What does Mark Douglas say in his book, "Trading In The Zone"?..."Anything can happen at any moment in the market".

The last two days have demonstrated the truth of that statement.

In closing, the QQQQs are back below the "50-Day" and the "20-Week".

What a fun day!

Mike