February's Gap Is In Play -
In our last
report, we mentioned that the 15-day moving average was acting as a
short-term level of resistance, which, as you can see from the chart, was not
able to prevent the bulls from sending the QQQQ higher. This week's chart is
interesting because the bulls were able to push the index toward the bottom
of the gap, near $44.50. Many traders wonder whether the QQQQ will be able to
overcome this resistance. The chart below is a good example of the battle
between the bulls and the bears; so far, it doesn't seem like either party
has an upper hand.
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
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