May 3, 2014

QQQ Weekend update

  • 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 Chart analysis

  • 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.