QQQQ: Some Support/Resistance Levels For Friday

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QQQQ: Some Support/Resistance Levels For Friday

By David Spurr on February 6, 2009 | More Posts By David Spurr | Author's Website

QQQ (QQQ), as a proxy for the NASDAQ (^IXIC), has been leading up. Watch volume tomorrow (Friday) for signs of weakness or strength. It is close to the top of the channel. A failure and drop could portend similar changes for ES-S&P 500.

The Dow Jones Transportation Average index (^DJT) and Nasdaq have been leading; they seem to be close to channel tops.

Volume was higher today than the last 10 or so trading days.

A break of the lower trendline would project down to the “Target” area.

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