Skip to main content

Tech Technical Analysis

QQQ
Your basic technical analysis (TA) is suppose to help a trader identify a trend in the market, or the beginning of a new trend. We all know the money is made in beginning of the trend and managing to get out before it's over, and yes, it's always easier said than done. The chart above is via the website finviz.com, the same trend lines most traders are concerned with are marked automatically with out any effort on my part. For those who know TA works, the above chart is worth paying attention to.

For the experienced TA geeks out there, I argue that QQQ has significantly  broken it's upward trend line. We all know that perma bulls and algos may determine this to be the perfect buying opportunity, still too early to tell if we are watching the beginning of a correction in tech, but it is fun to watch.

"My XLK option is having its best day so far, "On Watch", I'm looking forward to seeing how the bulls respond to what ever CNBC is being most dramatic about in the month of July." 

Comments

  1. LOL at the quote - CNBC will definitely try to create some drama but if the beginning of NBA Free Agency is an indicator, Squawk Box may have a competitor.

    In case things get busy, enjoy the 4th of July!

    ReplyDelete
  2. Rhiese, I hope you and your family enjoy the 4th of July as well... I'm still recovering from Saturday's festivities.

    ReplyDelete

Post a Comment