- Crucial resistance in daily chart is at 50 Day SMA.
- APPLE Closed below 20 Day SMA.
- Monthly candle continue to trade above 20 Month SMA. For bears of APPLE Price must trade below 20 Month SMA.
- QQQ WEEKEND UPDATE
January 5, 2013
- QQQ Daily chart is pausing at the golden ratio.
- GAP in daily chart and 200 Day SMA will act as support in the short term.
- Price closing above 20 Week SMA is also good sign for bulls. Sustaining above this level may lead to bigger gains.
- Bears must hope for a close below 200 SMA for bigger falls to happen.