***QQQQ daily: With the Q's now at 35.50 here, the professional speculators who took them short at 35.58 are certainly right, now the question becomes... what if 35.59/35.60 (today's high/10 day SMA) is broken to the upside? Well the chart is telling me that big resistance would then exist around 35.76 based on a trendline I see which is very legitimate, because it's break led to panic and it hasn't yet seen a retest...
Also on a side note, the 35.76 level could coincide with the Dow 10285 (or perhaps slightly lower) as talked of in #msg-6107630
I know the level II is gaining bid strength again here at 35.51 so those "pro's" are likely to cover here and lock in their intraday profit. But again, if the market manages to go parabolic before the close, then watch the 35.76 level, that would be the area to clearly take it short...
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