It backed away from the resistence 36 (actual intraday high was 35.96). To break out from more than free months of downward movement, it has to cross over 36. Next resistence is 37. The support is 34.
Once I had to wait for more than 20 minutes in a Marriott Hotel waiting for my Prius since the guy could not start the car in the garage.
As expected, the good economic news has pushed the market across the board higher today. QQQ closed at 35.34. The volume is higher, but not very high. The resistence is now 36 and support is 34. Interestingly, the intraday high was right below the SMA20, which acted as the resistence at current level. The market is still weak, we shall see if the 34 is the intermediate bottom.
QQQ moves up a little, but it needs to take out 35 to reverse the slide started two months ago. If the rotation of big money out of tech stocks has come to an end, it may go sideway for a while. Any good news probably will invite some to jump back in the market. Anyway, it has to hold the 34 support level firm, next support is at 32.5.