The QQQQ gapped up today which was filled just before 11:00AM. Price was trading in a slight downward trend for the day but closed up. The price pattern does look like a Saucer was forming (or cup of the cup and handle chart formation) throughout the day. That could mean that the upward trend could continue.
Pivot Points and Price Targets (Supports and Resistance) for Monday, 05/05/08, for QQQQ to look out for:
- Pivot Point = 48.77
- Support Level 1 = 48.35. Support Level 2 = 47.92
- Resistance Level 1 = 49.20. Resistance Level 2 = 49.62
Let’s see what will happen on Monday!