Tuesday, March 07, 2006

QQQQ Judgment Day

A short and sweet intraday post here.

It's simple - QQQQ is nearing both a major support trendline as well as a potential break in a head & shoulders formation.

If the QQQQ breaks below 40.50, it's time to party, bears.

While I have your attention, check out the massive H&S on symbol MTH (mentioned weeks ago here).

1 comment:

PB said...

When will the bulls give up? If I had any sort of a long position in tech, for one I wouldn't be on a bear-blog, on the other, today's environment does not seem like one that will give birth to a new and roaring bull-market. So, I think the time has come for this market to show where it really wants to go, fasten your seat-belts 'cause this month will be quite a ride!