Sunday, January 17, 2010

QQQQ WEEKLY CHARTS




Short term we are likely to bounce as support was successfully tested on friday BUT the weekly charts on the QQQQ are showing that things might be a bit overbought. This is NOT a sell signal or reason to short but it does warrant some caution and a pullback to $43 on the QQQQ could be very possible. I view this pullback which will happen eventually as a solid buying opportunity.

2 comments:

positiontrader said...

In your considerable experience, how much do you think charts help in times like these Stewie? I mean, isn't the market pretty much going to react to earning news?? Thanks!

Didn't help Intel much on Friday though :)

Calculator said...

when I can buy?

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