Tuesday, November 07, 2006 8:10:02 AM
QQQQ - Monday's 5-Minute Chart ...
The wily QQQQ opened strong on Monday and then shot higher. Only Monday's area of Gathering Resistance was able to stop it. Even then, there was no subsequent pull back from Gathering Resistance.
Monday's 5-Minute Chart (below) shows the morning spike to Gathering Resistance and how the QQQQ spent most of the day splashing within its narrow boundaries, temporarily peeking above the upper boundary in the afternoon.
On Tuesday , the QQQQ will trade with one eye on U.S. election results.
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The wily QQQQ opened strong on Monday and then shot higher. Only Monday's area of Gathering Resistance was able to stop it. Even then, there was no subsequent pull back from Gathering Resistance.
Monday's 5-Minute Chart (below) shows the morning spike to Gathering Resistance and how the QQQQ spent most of the day splashing within its narrow boundaries, temporarily peeking above the upper boundary in the afternoon.
On Tuesday , the QQQQ will trade with one eye on U.S. election results.
V
Buy at Support
Sell at Resistance
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