The Fluid Trader

Today’s action was doing well with the continuance of yesterday’s uptrend in the early hours of trade.  We did see a sharp downward momentum after the Fed’s announcement.  I feel that the Q’s will recover tomorrow but to how much is something that price will have to reveal to us tomorrow!

Pivot Points and Price Targets (Supports and Resistance) for Thursday, 05/01/08, for QQQQ to look out for:

• Pivot Point = 47.43
• Support Level 1 = 46.80.  Support Level 2 = 46.40
• Resistance Level 1 = 47.83.  Resistance Level 2 = 48.46

Until tomorrow, be safe!!!

Hi all,

Its time to review Apple once again.  Price seems to continue moving upwards as commented about previously.  The session closed at 175.05 with lower than normal volume.  Remember, the target of this stock price is 181 which is only 6 dollars away!  Let’s continue to watch this!

The Q’s continue to creep upwards.  We saw a bear flag with the start of trading today to see prices dip a little.  That ended at 10:30 where we saw price stair stepping its way upwards for the remainder of the day.  There were plenty of buy signals throughout the whole day and it would have been a great opportunity for the Bulls to cash in!

Pivot Points and Price Targets (Supports and Resistance) for Wednesday, 04/30/08, for QQQQ to look out for:

• Pivot Point = 47.47
• Support Level 1 = 47.18.  Support Level 2 = 46.77
• Resistance Level 1 = 47.88.  Resistance Level 2 = 48.17

Let’s see if the Q’s can continue this upward trend!

The Q’s had a steady uptrend during most of the day.  It started to reverse around 2PM today and showed us weakness for the rest of the day.

Pivot Points and Price Targets (Supports and Resistance) for Tuesday, 04/29/08, for QQQQ to look out for:

• Pivot Point = 47.33
• Support 1 = 47.04.  Support 2 = 46.84
• Resistance 1 = 47.53.  Resistance 2 = 47.82

Let’s see where the market leads us tomorrow!

Quick review on Apple.  The earnings report came out and the stock did well until they projected numbers for the next quarter.  Apple seems to be very conservative in these numbers to better manage their stock price and so they can blast the numbers out of the water when they do report.

Today’s trading comes to us with an up day and we continue to watch for the targeted price of around 181.  Its getting there!

The Q’s traded between the pivot point and Resistance level 1 for the day.  We were met with an upside gap in the morning with price moving upwards to find itself back to the levels saw at the beginning of the session today.  We ended the day with a lateral channel from noon on.  According to the 200 SMA, we had a relatively flat day and the pivot point analysis does point to a bullish day. 

Pivot Points and Price Targets (Supports and Resistance) for Thursday, 04/24/08, for QQQQ to look out for:

• Pivot Point = 46.73
• Support 1 = 46.40.  Support 2 = 45.94
• Resistance 1 = 47.19.  Resistance 2 = 47.52

 Its earnings season right now so becareful!

Apple did have an exciting day yesterday with a nice up day and it was met today with an equal down day today.  I still believe that AAPL will continue its ascent.  I will give it 17 more trading days (+/- 5) to see where it goes.  Let’s continue to watch!

The Q’s opened with a Gap Down today that led to a steady pace downward.  The ETF consolidated from 12:00 PM until the close of the session between 45.9 and 46.4. 

Pivot Points and Price Targets (Supports and Resistance) for Wednesday, 04/22/08, for QQQQ to look out for:

• Pivot Point = 46.35
• Support 1 = 45.93.  Support 2 = 45.51
• Resistance 1 = 46.77.  Resistance 2 = 47.19

Let’s see what price will look like tomorrow!

I was reviewing my charts today when I saw AAPL making a cup & handle formation.  The handle of course is a bull flag which broke out of it channel on 04/15/08.  I want to see if it does make a measured move upwards to around 181.  The reason for that because price created a low on 3/17/08 with a “flagpole” movement of 37 that ran into the bull flag. 

 Let’s keep an eye on AAPL!

We saw another triple digit day on the Dow with a 228 point gain, a 61 point gain in the Nasdaq, and a 24 point gain on the S&P 500.  The catalyst was earning reports of major companies like Citi Group and Google.  Citi Group’s report wasn’t a surprise and we found that Google blew the analysts out of the water.  Google drove the tech heavy Nasdaq today with a big gap up that wasn’t quite expected!

Its interesting to see what else will happen in this time of earnings season.