Thursday, February 21, 2008

Today's Markets

Below are three charts of the SPY, QQQQ and IWM, respectively. Each chart is a 10 day chart with 5-minute bars. I have drawn support and resistance lines to show areas that appear to offer either support or resistance. As the charts show, we've been rallying one day only to have those gains disappear the next. We're still stuck in a trading range.