Testing Resistance
Happy Holidays! The Qs are testing daily
resistance as we approach mid-day, and the hourly and 13-minute trend supports,
combined with one- and three-minute continuation triggers, have once again been
helpful in guiding entries and exits on the climb. Intraday trend support angles
have been strong thus far, allowing for low-risk pullback entries, and the
afternoon angel of the 13-minute support may be key in determining where we head
from here. Current resistance is seen in terms of the daily 15-MA, along with
the upper Bollinger bands on the hourly chart, yet the lesser trends should
again lead us.
Wednesday December 26,
2001Â 12:00 PM EDT
Please keep in mind that this
week’s holiday trading pace can often reflect sudden price surges on low volume,
and stochastics can help determine true market strength, or lack thereof.
Good Trading!