Today was a high volume up day vs. yesterday (and the past few days). Volume was still under the 50dma but it should pick up tomorrow if we are moving up. Price hit SPX 1261 which was close enough to the 1260 retrace lines I discussed this morning.
The Powershares QQQ Trust (QQQQ) is above the 1:2 descending as measured from the March low time and the November high. Price needs to hold above the midpoint of $48 if we are moving up.
Chart courtesy of Stockcharts.com
Tags: QQQQ · Square of Range · VolumeNo Comments
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