Thursday, October 12, 2006 9:12:45 PM
QQQQ - Thursday's 5-Minute Chart....
The QQQQ opened strong on Thursday, held its gains, then rallied impressively on the 2:00pm 'Beige Book' Report.
Only Thursday's area of Gathering Resistance between $42.17 and $42.23 was able to contain the rally...and that's all it was able to do...there was no subsequent pull back from Resistance.
Thursday's 5-Minute Chart shows the gap-up open followed by the 2:00pm rally to Gathering Resistance.
On Friday, the QQQQ will trade initially on the 8:30am 'Retail Sales' Report and then on the 10:00am 'Consumer Confidence' Report.
Further upside in the QQQQ will meet with an area of Gathering Resistance between $__.__ and $__.__.
The QQQQ opened strong on Thursday, held its gains, then rallied impressively on the 2:00pm 'Beige Book' Report.
Only Thursday's area of Gathering Resistance between $42.17 and $42.23 was able to contain the rally...and that's all it was able to do...there was no subsequent pull back from Resistance.
Thursday's 5-Minute Chart shows the gap-up open followed by the 2:00pm rally to Gathering Resistance.
On Friday, the QQQQ will trade initially on the 8:30am 'Retail Sales' Report and then on the 10:00am 'Consumer Confidence' Report.
Further upside in the QQQQ will meet with an area of Gathering Resistance between $__.__ and $__.__.
Buy at Support
Sell at Resistance
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