April 10, 2012

Falling wedge of QQQ

CHART-II
  • Price breakdown below the support line. consolidation near 200 Hour SMA may lead to a bounce. Sustaining below 200 Hour SMA will favor bears.
CHART-I

  • QQQ Hour in a falling wedge pattern.
  • 2nd chart shows price nearing 200 Hour SMA. For bulls price has to sustain above this level in order to avoid a bigger fall.
  • Bullish reversal must trade above the hourly trade for a bigger up move to happen.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


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