Short (more) QQQQ on the break

All charts courtesy of either:

Stockcharts.com

thinkorswim

Prophet Financial Systems, Inc.

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By: Stubborn Bear

Jun 10 2008

11:40 pm

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Category: Setups

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Tag cloud: INDU IWM IYR IYT NVDA QQQQ SPX TNX UPS USD VIPSX XLF

Once QQQQ breaks $48, short it and put a stop slightly over it. Be patient, don’t front run it. Possible double top is about to be confirmed.  MACD, RSI falling while QQQQ was going side ways. Uptick on volume to the downside. Target is around $45.

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