Username Password
S&P 500: 1,317.11 Change: -0.21%
inthemoneystocks
At least 5 active picks are required to calculate a P&P score.

inthemoneystocks' Blog : NASDAQ 100 Double Tops Prior To Big Tech Earnings

Date January 19, 2012    Comments Comments (0)    Rate this post Recommend This Post (24)   
Bookmark and Share
Abuse this post  Report Abuse
Please report this as abuse only if you believe it violates People And Picks  Terms of Use
You must log in to send an abuse report.
Share ThisShare This

The PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ)  is trading at $59.96, +0.47 (+0.79%). This happens to be a double top from July 2011 and multi year high. Generally, this would be considered resistance on the charts. In addition, one must find it very interesting to notice this level getting tagged prior to major earnings from tech companies. After the markets close today, earnings from Google Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), International Business Machines Corp. (NYSE:IBM) are scheduled to be reported. Perhaps this level of resistance is actually telling something about earnings today.


Gareth Soloway


InTheMoneyStocks.com


Tags : ETF   QQQ   GOOG   MSFT   IBM  

Want to comment on this post? Sign up now. It's FREE!
Already registered? Log In.
Sponsored Links