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!!!