QQQQ - Wednesday's Analysis (06/06/07)
ANALYSIS: The price of the QQQQ closed at 47.07 on Wednesday, down 0.51 from Tuesday
and down 0.12 from last Wednesday's price of 47.19. Since the price of the QQQQ fell from
last Wednesday and was confirmed by today's action, it turned neutral as compared to last
Wednesday's bullish status.
The short-term trend of the QQQQ, which is determined by its week-to-week direction,
is down: Public Charts
The best trading strategy in a Down Trend is to sell when prices rally to areas of Resistance,
especially if prices rally to areas of Gathering Resistance.
On Thursday...
Gathering Resistance stands between $__.__ and $__.__
Gathering Support stands between $__.__ and $ __.__
Each day's area of Gathering Support and Gathering Resistance is calculated
the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's
'Paste from Excel' Button.
ANALYSIS: The price of the QQQQ closed at 47.07 on Wednesday, down 0.51 from Tuesday
and down 0.12 from last Wednesday's price of 47.19. Since the price of the QQQQ fell from
last Wednesday and was confirmed by today's action, it turned neutral as compared to last
Wednesday's bullish status.
The short-term trend of the QQQQ, which is determined by its week-to-week direction,
is down: Public Charts
The best trading strategy in a Down Trend is to sell when prices rally to areas of Resistance,
especially if prices rally to areas of Gathering Resistance.
On Thursday...
Gathering Resistance stands between $__.__ and $__.__
Gathering Support stands between $__.__ and $ __.__
Each day's area of Gathering Support and Gathering Resistance is calculated
the night before and may be loaded as 'Alerts' into the Medved QuoteTracker via QuoteTracker's
'Paste from Excel' Button.
