Tuesday, February 16, 2010

QQQQ Gapping Up Into Resistance



But here are two possible scenarios. I think that this market is starting to put in a bottom of some sort. So there will be lots of hesitation at resistance. BAck and forth churning below the 1100 on the SPX and that $44 area on the QQQQ. Don't forget, bottom take a while to form. The market will fail numerous times and a retest of recent lows needs to be expected but my mentality now is to buy on dips.

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