A Close Above the Resistance -
In our last
report, we mentioned that the chart of the QQQQ represented a good example of
the battle between the bulls and the bears and that neither group was
controlling the direction of the index. As you can see from the chart below,
the bulls rallied together to show their strength last week as they pushed
the QQQQ above the resistance of $44.50. This bullish price action could be
the sign many traders will use to confirm a move back toward the February
high. It will also be very interesting to see how the approaching
first-quarter earnings season will affect the market over the next several
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
P.S. - If you are contemplating full-time day trading or if you are interested in the potential of making profits in excess of 2% of your capital on a daily basis, then the
Millennium Traders' Trading Room, part of Day Trading Services, is an absolute must.
If you want your money to work for you but do not have the time or the general knowledge to trade the market Swing Trading Services are the right strategy for you.