The ETF’s enjoyed a great bull day today and ended the day with a sign of continuation of the running of the bulls for the past 2 days. 

DIA:

The DIA gapped up at open and showed a bull flag early on in the trading hours to break upwards.  We closed the session with another bull flag and we are waiting to see what will happen the tomorrow.

dia_5min_080213.png

  • Price Gapped up at open way above the pivot point.
  • We see a bull flag form to break upwards.
  • Continual uptrend throughout the day
  • The session ended with another bull flag.
  • Volume was a little lower.

Pivot Points and Price Targets (Supports and Resistance) for Thursday, 02/14/08, for DiA to look out for:

  • Pivot Point = 125.09.
  • Support 1 = 124.33.  Support 2 = 123.40.
  • Resistance 1 = 126.02.  Resistance 2 = 126.78.

QQQQ:

The Q’s gapped up at the open of the session where it traded in a lateral channel and found strength and broke out past Resistance 1.

qqqq_5min_080213.png

  • The Q’s gapped up and traded in a lateral channel between resistance 1 and a support drawn in the chart
  • Price broke above Resistance 1 around 1:10PM
  • Price continued its uptrend to the end of the session.
  • Notice how the 20 MA created a nice support for the Q’s

Pivot Points and Price Targets (Supports and Resistance) for Thursday, 02/14/08, for QQQQ to look out for:

  • Pivot Point = 44.61
  • Support 1 = 44.34.  Support 2 = 43.89
  • Resistance 1 = 45.06.  Resistance 2 = 45.33

SPY:

SPY also exprienced a Gap up and formed a bull flag where it enjoyed a continued uptrend to end the day with another bull flag.

spy_5min_080213.png

  • Big gap up that completed or nearly completed a gap fade.  The Gap fade formed a bull flag.
  • Price enjoyed a gradual upward trend the rest of the day.
  • We closed with another bull flag.

Pivot Points and Price Targets (Supports and Resistance) for Thursday, 02/14/08, for SPY to look out for:

  • Pivot Point = 136.15
  • Support 1 = 135.21.  Support 2 = 134.04.
  • Resistance 1 = 137.32.  Resistance 2 = 138.26.

The bulls have been coming out to play the past few days.  Will the trend continue?  We have yet to see, however, we do see bull flags at the end of the trading session on 2 ETFs.  Let’s wait and see!

Trade Safely!