Nasdaq Needs to Hold 2286 080108
Filed under: Stock Sector - 01 Aug 2008
The Nasdaq must hold the morning low of 2286, or another 40 point drop is probable. Note the double bottom on the 60-minute Nasdaq chart. Look for a higher high candle to get back long QLD.

The old faithful trading pattern with a higher low pivot works it’s magic on QID. Notice how it ran to prior resistance at 46.

The same pattern flipped over, a lower high pivot, dropped QLD back to trendline support near 70.




No Comments »
No comments yet.
RSS feed for comments on this post. TrackBack URI
Leave a comment
If you want to leave a feedback to this post or to some other user´s comment, simply fill out the form below.