Tuesday, July 12, 2011

NASDAQ Rally Stalls At Resistance


Above is a daily chart of the NASDAQ (QQQ) over the past 9 months. As you can see this market has been in a trading range for most of the year.  Just recently we tested the top of this range and failed to break through resistance.

This has been a very difficult market to trade primarily due to the fact that traders are reacting to every bit of fundamental news that comes out regarding Greece. I have mixed feelings about the stock market right now which means I am on the sidelines pretty much until the picture  becomes a little more obvious to me.

8 comments:

Anonymous said...

I am hearing the issues in china are closer to being behind us now. Therefore , materials are a good place to be going short term. That being said , most everything I am reading is saying month end rally , then down she goes .

Anonymous said...

Kev did ya quit trading?

Kevin said...

Actually no...I'm trading larger than ever before which is why I don't have time to update this blog as often as I used to.

DG said...

Will you be posting anymore? I check back from time to time and see the two-month old post. No problem, just seeing if you have any plans to post again.

Anonymous said...

really enjoy your comments and would be interesting in hearing how your trading has changed in the last couple of months as the market seems more volatile and less liquid than anytime since 2008, are you going in and out of market many times a day?

thanks!

Calvin said...

Where are you Kevin? It's been a while since your last post, I think you should get back on track.

One interesting source of information is this .org I found, http://yourbestway.org to make maney from stock analysis.

Good luck, hope to hear from you soon.

Anonymous said...

Kevin, its almost 3 months since you posted...that's not "as often as I used to" , that's never!

Miss your views, even if you could do once a month. Appreciate all your past posts.

Anonymous said...

As markets are testing support and about to break it ... I wanted to see a post from Kevin on his take ... Technicals are crying for a huge drop ...

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