Charts on INDU, GOOG, HNP, QQQQ and LOW

Previous support at 10600 has become the resistence here. All longer term SMAs are pointing downwards, but SMA 5 is pointing sideway or flat. Obviously some good news would help to break the stalemate.

GOOG’s volume has been low. Friday was a down, but volume was very low compared to the up day on Thursday. Not too many sellers and it’s bullish sign.

Waiting for something to happen here.

Maybe we will see a cup forming here next week or so.

A good entry to long LOW if the support holds. The extremly high selling volume might indicate that most sellers wanted out were out now.