Trendlines, Moving Averages and Gaps

Important levels of support were obliterated before the open today and the markets are generally trying to hold support near the 10 (blue) & 20 (red) day moving averages. Look at the daily chart of the $QQQ that 50 day MA was an electric fence. Markets will likely be quiet for the rest of the day ahead of the long weekend, I know I won’t be adding any volume…

click the chart to enlarge