Tuesday, October 31, 2006 7:53:46 AM
QQQQ - Monday's 5-Minute Chart ...
The QQQQ dipped in early trade on Monday to test Support at Friday's Low. Support was found and the QQQQ, which remains reluctant to pull back to any great degree, rose to a subsequent high of $42.65.
Monday's 5-Minute Chart shows the Q's continuing fascination with the $42.60 vicinity, which has served alternately as Resistance and then Support and which served as Resistance again on Monday.
On Tuesday, the QQQQ will trade based on the 10:00am 'Consumer Confidence Report' which is often, as we have witnessed in the past, a market-mover.
An area of Gathering Support (Buy Alert) lies between $__.__ and $__.__ going into Tuesday's trade.
An area of Gathering Resistance (Sell Alert) lies between $__.__ and $__.__
The QQQQ dipped in early trade on Monday to test Support at Friday's Low. Support was found and the QQQQ, which remains reluctant to pull back to any great degree, rose to a subsequent high of $42.65.
Monday's 5-Minute Chart shows the Q's continuing fascination with the $42.60 vicinity, which has served alternately as Resistance and then Support and which served as Resistance again on Monday.
On Tuesday, the QQQQ will trade based on the 10:00am 'Consumer Confidence Report' which is often, as we have witnessed in the past, a market-mover.
An area of Gathering Support (Buy Alert) lies between $__.__ and $__.__ going into Tuesday's trade.
An area of Gathering Resistance (Sell Alert) lies between $__.__ and $__.__
Buy at Support
Sell at Resistance
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