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Follow-up to prior posts...
Nasdaq is retracing nicely, see the attached QQQ Nasdaq 100 fund
60-minute chart...
Daily trend is up, so intraday scalpers are looking for a place
to go long. Weekly trend is down, so longer-term swing traders
looking for a place to go short.
See attached pic for support levels on the 60-minute chart.
Short-term support levels are
88.11, this support did not hold
86.92, this is where QQQ is trading right now
86.02, it may get this low
84.08, a stop below this level is the standard DiNapoli way to play this..
Because the daily trend is not in agreement with the weekly trend,
going long is more dangerous than usual, so be careful..
THIS IS NOT A TRADE RECOMMENDATION. FOR EDUCATION PURPOSES ONLY.
See attached image for how the calculations are done.
Best wishes,
-Neal.
Attachment Converted: "f:\eudora\attach\qqq_sup2.gif"
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From: "John Manasco" <john@xxxxxxxxxxx>
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Subject: Re: Nasdaq charts/was Be Warned about Guru's
Date: Thu, 18 May 2000 12:41:30 -0400
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To: Ton "eg AJ" Maas
SHUT UP!!!!!!!!
Diamoniferously
John Manasco
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