POTENTIAL Support
Source: http://alphatrends.blogspot.com/2008/06/potential-support.htmlPosted on Wednesday, June 11th, 2008 | In Current Market News, Stocks to Watch
Contributed by: Brian Shannon (http://alphatrends.blogspot.com) -
Price is clearly lower this morning but the QQQQ has come down to a level where there may be buyers.
50 DMA ~ 47.85
Daily S2 ~ 47.77
Prior support found ~47.75
Remember that the more times support is tested, the more likely it is to fail to hold and any purchases here (other than to cover short sales) are very risky.
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 About Brian Shannon (http://alphatrends.blogspot.com)
Brian Shannon is a full time trader who shares his market experiences on the highly popular alphatrends.blogspot.com site. Alpha trends has been called "the youtube of technical analysis" by Technical Analysis of Stocks & Commodities Magazine (March 2007) and has been praised in Barron's (October 23, 2006) and Active Trader Magazine (July 2007). Brian trades an account at www.worldcupadvisor.com since March 2006 and in that time has more than tripled the results of the S&P 500. He can be reached at alphatrends@gmail.com |
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