Thursday, November 03, 2011

Bull move?

Over the last few months, the NASDAQ market has made a push towards heavy resistance at $59 - 60 on the $QQQ.  At each point, resistance has held and the market has fallen back.  However, momentum seems to be building again with the QQQ's closing at $58.10.
From there it seems to me that there is some weaker resistance at $62-63.  A penetration through and there is little resistance for a long way.  I'm holding my QQQ position.

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