By Licia Leslie
March 9, 2025
Hi Shoppers,
You know how I love my pitchforks.
They are easy and have very few rules.
One of the major rules is if the stock doesn’t trade all the way to the furthest support/resistance level then there is an 80% chance the stock will trade to the opposite end of the pitchfork.
If that hammer in the S&P 500 Emini Futures (Ticker: ES1!) pans out and we rally from here we could quite possibly trade all the way back up to the top of the pitchfork:
That would be tremendous!
Trade Review
Invesco QQQ Trust (Ticker: QQQ) traded within $.75 of my support level!
I called $479.75 and the low was $480.53.
QQQ bounced and managed to close above my $484.29 level, too but it was just about a dollar shy of closing above the 200 day moving average.
Friday’s candle could become a hammer …
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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