Dow Jones Industrial looks like going sideway amid earning announcements and change of feds’ chairman.
Tag Archives: Sideway
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.
QQQQ
QQQQ had a little pullback. It did break SMA 20. After almost 5 month of steady move, it may just go sideway for a while as it did around 36 in October. The major support should be at 38. Take a look at the weekly and monthly charts for more perspectives.
SUNW and LFC
SUNW is moving up quite bit in extremely high volume. It passed through the resistence at 5 and headed to the next one around 5.85, the year’s high.
LFC is trying to break out from 30. If it fails to do so, we will see some pullback near the base it built in the past two months. From the chart, getting back to the all time high of 35 is reacheable. It may go sideway before moving to 35 just like it did around the base at 25.
QQQ
QQQ moves up a little, but it needs to take out 35 to reverse the slide started two months ago. If the rotation of big money out of tech stocks has come to an end, it may go sideway for a while. Any good news probably will invite some to jump back in the market. Anyway, it has to hold the 34 support level firm, next support is at 32.5.