It’s forming a triple top, likely reversal?
However, QQQQ broke out but the lighter than average volume makes the breakout less convincing.
Tag Archives: Breakout
Dow Jones Industrial approaching previous high
It will have to test the previous high first. We might see a breakout from this ascending triangle. So the resistence is at 12,845 and then 13,000 if it breaks out.
Looking for direction
Dow Jones Industrial Average is going to resolve this soon. A breakout from here won’t be a surprise. Looking for some decent earning reports.
YHOO, GOOG, MSFT, QQQQ and INDU
YHOO broke out solid this time fueled by good earning report.
GOOG will be retesting the previous high tomorrow.
After a pullback, MSFT resumed upward movement from its recent breakout.
Overall, the tech-heavy QQQQ still has a lot of work ahead.
INDU faces the resistence around 10388.
YHOO breaking out?
YHOO is forming a triangle here. If the triangle is resolved from the short-term trend, which is up, the breakout should be on the upside; if it’s resolved from the intermediate-term, it will go down. I will try to see if a long on a slight OTM calls for May or June would work. A May 37.5 Call is currently sold at 0.60.