A ‘Catch Your Breath’ Morning
Call it a "catch your
breath" morning as the Qs are consolidating north of hourly support for the
first time in days. Unlike yesterday, the
Nasdaq has thus far been the weaker of the indices as it regroups after
yesterday’s run. And speaking of yesterday, the midday turn was a classic and QQQ
school and video
students should have spotted the key turn in tide which we’ve been discussing
recently ad nauseam. Opportunities like that can often make a trader’s month, if
not quarter, and congrats to many who e-mailed me with their results. As the
afternoon progresses, I’ll be watching to see how the Qs respond to a test of
the hourly support with an eye on stochastics to see if we develop into an
"oversold on support" condition with which, again, students should be
very familiar.
Good Trading!