It closed up at 36.16 right at the current resistence level. However, the volume is below average. It has also reached short-term overbought condition. It won’t hurt to take some money off the table if you have bought at 34. The next resistence is still 37 and support may be at 35 or 34.
It backed away from the resistence 36 (actual intraday high was 35.96). To break out from more than free months of downward movement, it has to cross over 36. Next resistence is 37. The support is 34.
My Prius and the Parking Garage.
Once I had to wait for more than 20 minutes in a Marriott Hotel waiting for my Prius since the guy could not start the car in the garage.
As expected, the good economic news has pushed the market across the board higher today. QQQ closed at 35.34. The volume is higher, but not very high. The resistence is now 36 and support is 34. Interestingly, the intraday high was right below the SMA20, which acted as the resistence at current level. The market is still weak, we shall see if the 34 is the intermediate bottom.