DayTrading QQQ Swings (QQQ)

[blasher]

Stocks ended higher Friday on positive economic data, with the broader market capping off a sixth straight week of gains. The University of Michigan Consumer Sentiment Index rose to 73.6 in early August from 72.3 last month, above 72.2 expected. Separately, the Conference Board said its index of leading economic indicators for July rose 0.4%, also above expectations. Tech stocks ended the week on an upbeat note, led by Apple reaching a record close, but it was hard to ignore notable losses from social-media sector stalwarts Facebook and Groupon. Apple gained 1.85%, posting its highest- ever close at $648.11, after Jeffries & Co. raised his price target on stock to $900 a share from $800. Marvell dropped 14.17% after weak earnings. Facebook slid 4.13% dipping to $19 a share, on concerns about more than 270 million shares that have become free from their post-IPO lockups, with many more to come later this year. Stock advances are expected to run into resistance this week, as a lack of fresh incentives and opacity in Europe catch up with equities. Investors will closely watch the Federal Reserve minutes and news from Europe as Prime Minister Antonis Samaras plans to meet with President Jean-Claude Juncker of the European Council, German Chancellor Angela Merkel and French President François Hollande in quick succession next week. Also, notable companies slated to report results next week are Dell, Hewlett-Packard, Dell.