Let's Take a Stock Market Road Trip
For complete and detailed commentary and analysis, please see our blog post published 8/1/2014: syncubate.com/blog/2014/8/1/lets-go-on-a-stock-market-road-trip
Today, QQQ closed at $95.02, sharply below both the recent $96 breakout level and the 20 day Moving Average at $95.87 (orange line on the chart).
-DMI also spiked above +DMI, indicating on the daily time frame that the bears are growling and putting up a stronger fight against the bulls.
We noted in our previous analysis that should the 20 day Moving Average fail to hold as a support on any subsequent pullback, the next areas we would be looking at on the chart would be the 50 day Moving Average and the $93 congestion zone from late June.
Today, QQQ closed at $95.02, sharply below both the recent $96 breakout level and the 20 day Moving Average at $95.87 (orange line on the chart).
-DMI also spiked above +DMI, indicating on the daily time frame that the bears are growling and putting up a stronger fight against the bulls.
We noted in our previous analysis that should the 20 day Moving Average fail to hold as a support on any subsequent pullback, the next areas we would be looking at on the chart would be the 50 day Moving Average and the $93 congestion zone from late June.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.