Open:
QQQQ/NDX are smack in the middle of their January gaps and that looks like what was driving this rally all along. We saw the same thing in March, when the drop would not stop until the Q's got rid of some unfinished business. Well, here we are on the other side.
QQQQ January gap: 49.79/50.62
NDX January gap: 2025.36/2051.76
NQ's same gap is a little higher, but interestingly enough, we stalled exactly at the gap open for the e-mini, right at 2041.
These gaps do not necessarily need to be closed, getting half-way in is sometimes enough to do the trick.
QQQQ/NDX are smack in the middle of their January gaps and that looks like what was driving this rally all along. We saw the same thing in March, when the drop would not stop until the Q's got rid of some unfinished business. Well, here we are on the other side.
QQQQ January gap: 49.79/50.62
NDX January gap: 2025.36/2051.76
NQ's same gap is a little higher, but interestingly enough, we stalled exactly at the gap open for the e-mini, right at 2041.
These gaps do not necessarily need to be closed, getting half-way in is sometimes enough to do the trick.
This entry was posted
on Friday, May 16, 2008 at 5/16/2008 09:31:00 AM.
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