With the most recent move QQQ has been respecting the same trend line for about 11 days now. With theories of the largest percentages of QQQ moving higher in up and coming weeks its likely to break above past resistance and possibly move for new ATH's.
Appl and MSFT being some of the largest contributors in QQQ and both expecting to move higher its likely QQQ will have no choice but to follow.
291.96 being the .236 fib retracement from the most recent high low swing and current price sitting right at that level, respecting the trend line. If we can break that level and hold I would be inclined to think we will get a run for ATH's. Again, headlines are playing a major roll here with the entire market so a break down below the trend line and I am shorting, even if it is for a scalp.
This can be played either direction and should a stop or trailing stop. Watch for conformation in either direction, breaking the lower trend line would likely get some down side movement, breaking the resistance line would be a likely move to test ATH's on the down side mid 280's would be my play especially if we break the .382 fib low 280's with a target of 283..
Key information provided by Barchart.
14 Day RSI at 80% 355.52
14 Day RSI at 70% 315.69
13-Week High 303.50
52-Week High 303.50
1-Month High 299.14
Pivot Point 2nd Level Resistance 293.82
292.71 14-3 Day Raw Stochastic at 80%
292.65 3-10 Day MACD Oscillator Stalls
Pivot Point 1st Resistance Point 292.38
High 291.57 High
Last 290.93 Last
290.12 Pivot Point
289.63 Price Crosses 9 Day Moving Average
289.49 14-3 Day Raw Stochastic at 70%
Pivot Point 1st Support Point 288.68
Previous Close 288.40 Previous Close
288.18 3-10-16 Day MACD Moving Average Stalls
Low 287.87 Low
287.23 14 Day %k Stochastic Stalls
286.93 38.2% Retracement From 13 Week High
286.85 38.2% Retracement From 4 Week High
Pivot Point 2nd Support Point 286.42
284.75 14 Day %d Stochastic Stalls
284.19 Price Crosses 9 Day Moving Average Stalls
283.82 14 Day RSI at 50%
283.05 14-3 Day Raw Stochastic at 50%
283.05 50% Retracement From 4 Week High/Low
283.01 Price Crosses 18 Day Moving Average
281.80 50% Retracement From 13 Week High/Low
281.71 Price Crosses 40 Day Moving Average
279.26 38.2% Retracement From 4 Week Low
276.68 38.2% Retracement From 13 Week Low
276.62 14-3 Day Raw Stochastic at 30%
274.65 Price Crosses 18 Day Moving Average Stalls
273.40 14-3 Day Raw Stochastic at 20%
267.51 Price Crosses 40 Day Moving Average Stalls
1-Month Low 266.97
13-Week Low 260.11
250.57 38.2% Retracement From 52 Week High
14 Day RSI at 30% 242.48
241.68 Price Crosses 18-40 Day Moving Average
234.21 50% Retracement From 52 Week High/Low
217.86 38.2% Retracement From 52 Week Low
200.00 Price Crosses 9-40 Day Moving Average
14 Day RSI at 20% 190.80
177.08 Price Crosses 9-18 Day Moving Average
52-Week Low 164.93
Appl and MSFT being some of the largest contributors in QQQ and both expecting to move higher its likely QQQ will have no choice but to follow.
291.96 being the .236 fib retracement from the most recent high low swing and current price sitting right at that level, respecting the trend line. If we can break that level and hold I would be inclined to think we will get a run for ATH's. Again, headlines are playing a major roll here with the entire market so a break down below the trend line and I am shorting, even if it is for a scalp.
This can be played either direction and should a stop or trailing stop. Watch for conformation in either direction, breaking the lower trend line would likely get some down side movement, breaking the resistance line would be a likely move to test ATH's on the down side mid 280's would be my play especially if we break the .382 fib low 280's with a target of 283..
Key information provided by Barchart.
14 Day RSI at 80% 355.52
14 Day RSI at 70% 315.69
13-Week High 303.50
52-Week High 303.50
1-Month High 299.14
Pivot Point 2nd Level Resistance 293.82
292.71 14-3 Day Raw Stochastic at 80%
292.65 3-10 Day MACD Oscillator Stalls
Pivot Point 1st Resistance Point 292.38
High 291.57 High
Last 290.93 Last
290.12 Pivot Point
289.63 Price Crosses 9 Day Moving Average
289.49 14-3 Day Raw Stochastic at 70%
Pivot Point 1st Support Point 288.68
Previous Close 288.40 Previous Close
288.18 3-10-16 Day MACD Moving Average Stalls
Low 287.87 Low
287.23 14 Day %k Stochastic Stalls
286.93 38.2% Retracement From 13 Week High
286.85 38.2% Retracement From 4 Week High
Pivot Point 2nd Support Point 286.42
284.75 14 Day %d Stochastic Stalls
284.19 Price Crosses 9 Day Moving Average Stalls
283.82 14 Day RSI at 50%
283.05 14-3 Day Raw Stochastic at 50%
283.05 50% Retracement From 4 Week High/Low
283.01 Price Crosses 18 Day Moving Average
281.80 50% Retracement From 13 Week High/Low
281.71 Price Crosses 40 Day Moving Average
279.26 38.2% Retracement From 4 Week Low
276.68 38.2% Retracement From 13 Week Low
276.62 14-3 Day Raw Stochastic at 30%
274.65 Price Crosses 18 Day Moving Average Stalls
273.40 14-3 Day Raw Stochastic at 20%
267.51 Price Crosses 40 Day Moving Average Stalls
1-Month Low 266.97
13-Week Low 260.11
250.57 38.2% Retracement From 52 Week High
14 Day RSI at 30% 242.48
241.68 Price Crosses 18-40 Day Moving Average
234.21 50% Retracement From 52 Week High/Low
217.86 38.2% Retracement From 52 Week Low
200.00 Price Crosses 9-40 Day Moving Average
14 Day RSI at 20% 190.80
177.08 Price Crosses 9-18 Day Moving Average
52-Week Low 164.93