Invesco QQQ Trust Series 1 (QQQ)

[pstuartb]

I pay a lot of attention to short-term moving averages. I see them providing support and resistance many, many times each day.

The ones that I find the most useful are the 20smas on each time-frame.

I am convinced that institutional traders and their computers use intra-day mas as support and resistance. Enough traders use them as support and resistance that they are self-fulfilling.

When price slices through them like a knife through hot butter, it's meaningful in the same way of Wm%R slicing through the -50 level.

To answer Jimmy's question, I don't think there's any correlation at all between b-bands and moving averages, other than the MA that B-Bands are based on (usually the 20sma).