May 3, 2014

  • QQQ at crucial resistance zone.
  • Daily close above these levels may give an up move.
  • Key tech stocks like Facebook are testing similar resistance levels.
  • Daily candle is showing weakness, Break below 87 levels may give bigger correction.

  • ES 4 hour chart shows weakness at resistance zone.
  • Price is testing hourly cloud. Price closing below the cloud may give a bigger fall.
  • Immediate support level shown with fib levels in 4 hour time frame.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore