March 14, 2013

QQQ Chart analysis

 
  • Daily chart shows a range an unfilled GAP.
  • Range is at 78.6% Fib level So bulls need a weekly close below the range and 78.6% Fib level to weaken the uptrend.
  • Last chart shows Weekly RSI near overbought levels But indicator is yet to hit a resistance line. So price may continue to move up till the indicator hits and reverses from the resistance line.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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