Replies to post #24956 on Short Term Trading Member Forum

[Mr Nasdaq]

QQQQ - Wednesday's 5-Minute Chart...

The QQQQ gapped up on Wednesday's open to test Resistance at Tuesday's High ($44.13). After printing a high of $44.11, Resistance was found.

Wednesday's 5-Minute Chart (below) shows the QQQQ hovering just above Gathering Support for the second day in a row.

On Thursday, the best thing that traders can do is remind themselves that it's 'Options Expiration' Thursday...often a volatile day in which anything can happen.

Gathering Support for Thursday stands between $43.38 and $43.50.

If that area of Support fails, another important area of Support stands at $43.00 and is provided by a combination of the 50-Day Moving Average ($43.02) and the Spring Peak ($43.00).