Tuesday, July 12, 2011

NASDAQ Rally Stalls At Resistance


Above is a daily chart of the NASDAQ (QQQ) over the past 9 months. As you can see this market has been in a trading range for most of the year.  Just recently we tested the top of this range and failed to break through resistance.
This has been a very difficult market to trade primarily due to the fact that traders are reacting to every bit of fundamental news that comes out regarding Greece. I

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