The QQQ looks to have finally gotten up off the mat (along with the rest of the U.S. equity market). As of this writing stocks stand at the cusp of challenging the highs yet again. Nice call to Kimberly who emailed me “$106.00” around 13:30 today.
As always, the question becomes… “What now?”
Sit on your hands if need be and let the market work for you. In order to take big gulps from the market, you must be ready to sacrifice the sips. If price manages to come all the way back and take out the most recent swing low, that’s trading. On the other hand, if it can get through resistance right here around $106, a good target becomes the $112 level.
Have a good ride.