Timing Market Turns for the Nasdaq 100 Index (NDX) 04/17/2006
Market Timing for Daily and Intraday Investors and Trades.
For Option Trading, Futures Trading and Trading ETF's (QQQQ) on NDX
Swing trade - 100% short position at the open today, Monday.
Investor core - 100% cash positions.
Resistance at 1720-3
Support at 1695 then 1688, but 1665 is critical. There is not much support below that till 1625.
The QQQQ's look out of channel now. In fact, their break down is out of an upward wedge, a more significant and higher percentage (more reliable) formation to gauge the distance of the first level for a bounce.
Breaking below 1700 will be considered a break of the channel.
Good Trading and God bless
W. B. Busin
For Option Trading, Futures Trading and Trading ETF's (QQQQ) on NDX
Swing trade - 100% short position at the open today, Monday.
Investor core - 100% cash positions.
Resistance at 1720-3
Support at 1695 then 1688, but 1665 is critical. There is not much support below that till 1625.
The QQQQ's look out of channel now. In fact, their break down is out of an upward wedge, a more significant and higher percentage (more reliable) formation to gauge the distance of the first level for a bounce.
Breaking below 1700 will be considered a break of the channel.
Good Trading and God bless
W. B. Busin
posted by W. B. Busin at 3:42 AM
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