Tuesday, August 23, 2011

Market Update

My last market update I showed you the early signs of an intraday pullback, here's the updated charts.

 DIA 5 min 3C and 50 bar moving average-target $109.75 would be a reasonable minimum target.

 QQQ 5 min 3C/50 bar m.a. The 50 bar m.a. about lines up with the small intraday double bottom breakout area, thus this are makes some sense to me as a support zone.

The same on the SPY, everything that applies to the QQQ applies to the SPY here.

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