Friday, October 22, 2010

Q's Wedge

The SPY has done nothing ZERO!  The Dow is down a bit, but the QQQQ has gained .50% or so. The Q's also formed a bearish rising wedge, a very obvious one that has seen the first of what may be several head fakes in the area. Keep an eye on this. A real move to the down side will retrace the base or should and bring the Q's back to the $51.20 area.

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