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QQQ Gap Fade In Play, Now Testing Critical Support

So far, the Q's failed to take out the top of Friday's gap (resistance) on a 60-minute closing basis (the first 60-min candle of each day prints at 10:00am ET so it represents only 30-minutes of trading). While that candle managed to close right on top of the bottom of the gap (i.e.- support) the [...]

Feb 1, 2017 10:58am|Categories: Equity Market Analysis|Tags: , , , , , |Comments Off on QQQ Gap Fade In Play, Now Testing Critical Support

SPY & QQQ Wedge Updates

As the largest component of both SPY & QQQ, today's earnings induced gap in AAPL has carried over to indicate a gap up in both of those major indices. With several resistance levels just over head & both 60-minute trend indicators recently flipping to bearish, let's see if today's gap is built up or faded. [...]

Feb 1, 2017 9:27am|Categories: Equity Market Analysis|Tags: , , , |Comments Off on SPY & QQQ Wedge Updates