4/11/2018 Markets gap down on US – Russia tensions, but technology rebounds

Fun Fact #24

Did you know that David Tepper, manager of the hedge fund “Appaloosa Management,” has a pair of brass balls that he strokes whenever he needs luck? 

This is definitely not one of those moments where I say “Haha, got ya, it was just a prank bro!” Read about his (lucky brass balls) here


 

4_11_2018 Market Stocks.PNG

I updated my target for Facebook up to 172 (from 165) because it is showing strength when the entire market is showing weakness. 172 happens to be within the 170-173 resistance zone as well as being a gap. 

QQQ is still having trouble with the 162 level neckline resistance as you can see in the chart below. If QQQ can close above this level, like I was discussing yesterday, this would likely result in a move to roughly 167. Also notice that the volume is still really low. 

QQQ 4_11_2018.PNG

I think QQQ will retest the 162 neckline resistance level by the end of this week, and hopefully break above it. 

Have a great day! 

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