I make a ton of typos myself, being dyslexic. I spend a lot of time correcting my errors!
But anyhow, the BBs are starting to cinch down like a lobster claw:
stockcharts.com[w,a]daclyyay[dc][pb50!d20,2][vc60][iLyb20,2.0]&pref=G
The upper BB rail is at $36.65 and dropping. But I just can't see QQQQ getting up that far, since before that we have chart resistance at $36.00, the upper rail of the regression channel at about $36.10 or so, the 50 sma at $36.33, and the 200 sma at $36.51:
stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60][iLyb20,2.0]&pref=G
139.142.147.218
This situation is much like what we saw with the waves of resistance above $38, which turned back QQQQ a few times. Now things are a bit different, since the medium term correction is over. But QQQQ has not accumulated enough fuel for a sustained drive upwards that will be sufficient to take out heavy resistance.
So at best, I think QQQQ could possible spike intraday to the 200 sma, but more likely will get turned back at the 50 sma.
The situation on the next attempt should be much improved, I expect.
T |
