QQQ is moving sideway a lttle. It starts building a base around 30. Based on the daily chart, it may test the uptrend line at the previous resistence, now the support, which would be a good entry on the long side. If it breaks from current base, go long.
Tag Archives: Qqq
Taking profit …
Closed puts on QQQ, IBM, SLB and CSCO.
It’s Friday. The market moves lower as profit taking goes on with the excuse of weakened consumer sentiment in May.
Market moved higher …
Closed QQQ position. Long puts on IBM, SLB and CSCO.
The market keeps moving up despite talk of possible correction in the near term. On QQQ chart, the last hour surge repeated again.
Last hour surge saved the day …
QQQ rose today from the sharp drops in the two previous trading days. A big surge in the last hour pushed it back into positive territory.
Tomorrow will be a choppy day after TI trims its outlook for Q2.
Reversal?
