Fun Fact #37
Did you know that the Chinese stock market closes for a lunch break in the middle of the day? The break lasts 90 minutes.
QQQ opened at 164.35, but ended up closing right back at yesterday’s close. We will have to see where QQQ goes on Monday, but it doesn’t feel very bullish right now. Although I was bearish when QQQ hit 162 yesterday, I thought that the good earnings from Amazon, Microsoft, and Intel would have the market skyrocket today. It looks like that wasn’t the case.
Here’s the daily chart of Amazon. Notice the profit taking after Amazon made a new all time high today. This doesn’t look very bullish to me, as it looks like Amazon wants to go back to the 1450-1500 level in the next couple weeks. We will have to see though.
Microsoft (MSFT) actually went negative for the day at one point, but ended up recovering. Notice how MSFT also made a new all time high, but ended up closing back down within the previous trading range.
I expect to do some weekly or monthly charts sometime this weekend.
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