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Tech Update Sunday #QQQ

randholm
July 13, 2014 3:32 pm / Published in Market Update, QQQ

Tech Update Sunday #QQQ

The long Upper and Lower Shadows today formed an imperfect Spinning Top pattern, the Real Body is on the larger side of ideal for the pattern, which creates a neutral tone into the new week. Bulls can point to a good base of buying activity over the past few sessions, but bears can rely on the failed break above the June high, 125-09. Weekly charts formed an imperfect bullish Engulfing pattern–the open of the week was not below the close of the preceding week, both are 124-07. The weekly pattern might be just enough to give bulls an edge if gains are achieved early.

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