Since it broke its long term downtrend in last November, QQQ rose rapidly from low of 20 to near 28, then it was in a trading range for 4-5 months. In June, it broke out the range. The next resistence level is around 34. With recent run up, it may go sideway for a while before charging ahead to the resistence level near 40 provided the overall market condition is improving. The current support level is at 29 and 25 is the major support level.
Tag Archives: Qqq
QQQ
It bounced back big yesterday. QQQ closed today with a tomb stone candle with bearish tone. The volume was light probably due to the comming July 4th long weekend.
QQQ
It bounced back big yesterday. QQQ closed today with a tomb stone candle with bearish tone. The volume was light probably due to the comming July 4th long weekend.
TGIF sell off
Sold half position in the begining and then closed the rest for the weekend. The uptrend is still intact even after the sell off. The volume is light so it is not big deal.
QQQ bounced back …
QQQ closed up 0.70. It bounced right from the trend line after five days of declining. Added long position.