Thursday, September 21, 2006 2:41:31 PM
GLENO, the 5-Minute Chart closed on Wednesday having formed a "Cup & Handle" Pattern that needed to work itself out this morning.
Things look a little weak as the doldrums come to a close. But, as you say, "Who Knows?"
The QQQQ is currently testing Support at the post FOMC Meeting low in the vicinity of $40.20.
All we can do is venture short positions at areas of "Gathering Resistance" and venture purchases at areas of "Gathering Support". The market will always take us to one area or the other, sometimes to both areas within the same day
Things look a little weak as the doldrums come to a close. But, as you say, "Who Knows?"
The QQQQ is currently testing Support at the post FOMC Meeting low in the vicinity of $40.20.
All we can do is venture short positions at areas of "Gathering Resistance" and venture purchases at areas of "Gathering Support". The market will always take us to one area or the other, sometimes to both areas within the same day
Buy at Support
Sell at Resistance
*
*
*
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
