The Q's gapped down right into a previous congestion/pivot area which found footing rather quickly. The NasdaqTick (second chart, bottom sub-graph) didn't support much of a continued downside and we were off to the races, extending all the way to R1 before consolidating. A further push towards previous resistance basically ended the momentum plays as the remainder of the day was very choppy. Price currently bases around $30.65.
The daily looks interesting. Price basing at a neckline with an inverse Head & Shoulders pattern with today's price leaving us with a Bullish engulfing candle. 
Meanwhile, Gold stays solid, the U.S.Dollar index perked up, and have you noticed NFLX lately? After a recent analyst downgrade this issue looks awfully strong.
No comments:
Post a Comment