May is behind us as well as last minute end of month adjustements and the markets wasted no time jumping higher. If you were short QQQQ on May 18th, you are now underwater. I have been warning bears about all this negativity. Watch for 10 day ema at 39.35 for support going forward.
NQ (NDX e-mini ftures) closed the gap at 1609.75, next one is 1628.50. That could prove to be short term resistance as it is home to weekly R1 at 1629.25 and 20 day moving average right above at 1633. The long on the monitor at 1571 is to be closed at 1628. Stop moved up to 1591. Jobs report tomorrow will be market moving.
This entry was posted
on Thursday, June 01, 2006 at 6:01 PM.
