From the chart below, it looks like QQQ broke below the supporting trend line to the down side, tried to recover, hit it's head on the trend line (confirming it has now become resistance), and is now set to head back down.
And the chart...
Thursday, July 18, 2013
QQQ 21-Minute Update
Just wanted to post the 21 minute chart as of the close of today, July 18th 2013. The top pink line represents an existing level of resistance, and the diagonal pink line represents what WAS a support line, but which has now turned into a resistance line, as you can see.
From the chart below, it looks like QQQ broke below the supporting trend line to the down side, tried to recover, hit it's head on the trend line (confirming it has now become resistance), and is now set to head back down.
And the chart...
From the chart below, it looks like QQQ broke below the supporting trend line to the down side, tried to recover, hit it's head on the trend line (confirming it has now become resistance), and is now set to head back down.
And the chart...
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