If you’re aggressive, short it. The downtrend line has pushed it right back.
Monthly Archives: May 2005
INDU
INDU lost more than 100 points today, but it remained above SMA 20. Let’s see if this support can hold tomorrow.
XOM
INDU and QQQ
INDU rallied back nicely today. I sold 1/3 of current equity position as planned (10350). Another 1/3 will be sold if Dow Jones reaches 10550-10600.
QQQQ is still lagging behind. Today’s move was not accompanied with good volume. Let’s see if we can see some follow through in the rest of week.
INDU and QQQQ
It looks like every bounce has met with selling, so the SMA 20 becomes the overhead resistence for a while. I plan to reduce 1/3 position if INDU reaches 10350.
QQQQ looks worse.