SPY Trend Analysis - 12/22/2006

All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 102.30 points, or 0.82%. The Standard & Poor's 500 Index dropped 16.33 points, or 1.14%, while the Nasdaq Composite lost 56.02 points, or 2.28%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective:
The monthly uptrend that started on 6/14/2006 is near completion. It has a five waves impulse structure and the final fifth wave is completed or almost completed. A new downtrend toward the multiyear support line is about to start.

QQQQ - Long-Term Trend

SPY Short-term perspective:
The last fifth wave of the long-term uptrend is near completion. The wave is forming a termination pattern, weekly technical indicators are overbought, and the weekly uptrend support line is almost broken. If support holds, we may see a brief rebound, but there is not much room for the upside move. The risk/reward ratio is high.

QQQQ - Short-Term Trend

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SPY Trend Analysis - 12/15/2006

It was an up week for the major markets. For the week, the Dow Jones Industrial Average gained 138.03 points, or 1.12%. The Standard Poor's 500 Index gained 17.25 points, or 1.22%, while the Nasdaq Composite climbed 19.84 points, or 0.81%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly Alerts SPY

SPY Long-term perspective:
The monthly uptrend that started on 6/14/2006 is near completion. It has a five waves impulse structure, and final wave five is in progress now. Wave five is forming MACD bearish divergence. It is a sign that the uptrend is loosing the strength. We expect the monthly uptrend complete within the next several weeks, and a new downtrend start toward multiyear trend support line.

QQQQ - Long-Term Trend

SPY Short-term perspective:
The last fifth wave of the long-term uptrend is in progress. The wave is forming a termination pattern that may last into the year-end. Daily and weekly technical indicators are overbought, and price is near uptrend resistance line. There is not much room for the upside move. The risk/reward ratio is high.

QQQQ - Short-Term Trend

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QQQQ Trend Analysis - 12/8/2006

QQQQ Trend Analysis - 12/8/2006

It was an up week for the major markets. For the week, the Dow Jones Industrial Average gained 113.36 points, or 0.93%. The Standard Poor's 500 Index climbed 13.13 points, or 0.94%, while the Nasdaq Composite rose 24.15 points, or 1.00%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly QQQQ

QQQQ Long-term perspective:
Our long-term perspective has not change. The weekly uptrend that started on 7/18/2006 is complete or near completion. QQQQ is very close to the long-term uptrend resistance line near 45-46 area. This resistance level should not be broken. After reaching the long-term uptrend resistance trendline, QQQQ should go down in the direction of long-term support.

QQQQ - Long-Term Trend

QQQQ Short-term perspective:
QQQQ weekly indicators are still oversold, but daily indicators moved out from the oversold area. Price is near the weekly uptrend support line, but not far from the long-term uptrend resistance. At this point there are equal chances that QQQQ move up toward the long-term uptrend resistance line around 45-46 area or down toward the long-term uptrend support (40-39). The short-term trader can try to catch the up wave, but risk/reward ratio is pretty high.

QQQQ - Short-Term Trend

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QQQQ Trend Analysis - 12/1/2006

All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 86.04 points, or 0.70%. The Standard & Poor"s 500 Index lost 4.24 points, or 0.30%, while the Nasdaq Composite dropped 47.05 points, or 1.91%.

Oscillators Trend Analysis Candle Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly sticks QQQQ

QQQQ Long-term perspective: The weekly uptrend that started on 7/18/2006 is complete or near completion. QQQQ is very close to the long-term uptrend resistance line near 45-46 area. This resistance level should not be broken. After reaching the long-term uptrend resistance trendline, QQQQ should go down in the direction of long-tern support.

QQQQ - Long-Term Trend

QQQQ Short-term perspective: QQQQ weekly technical indicators are still strongly overbought. The price is near the weekly uptrend support line. Chances are high that weekly uptrend is over, and QQQQ will break the support line. In case the support holds, there is a slight possibility that QQQQ make a new attempt to reach the long-term uptrend resistance around 45-46.

QQQQ - Short-Term Trend

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QQQQ Trend Analysis - 11/24/2006

QQQQ Trend Analysis - 11/24/2006

It was a mixed week for the major markets. For the week, the Dow Jones Industrial Average gave back 62.39 points, or 0.51%. The Standard Poor"s 500 Index lost 0.25 points, or 0.02%, while the Nasdaq Composite climbed 14.40 points, or 0.59%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly Alerts QQQQ

QQQQ Long-term perspective: QQQQ broke the long-term resistance area between 43.05 and 43.31, and closed on Friday at 44.30. We considered two long-term QQQQ scenarios correlated with S&P 500 long-term perspective. 1. If S&P 500 scenario #1 is in play, then QQQQ is forming double top pattern and move down to retest its July low - 35.54. 2. If S&P 500 scenario #2 unfolds, QQQQ has chances to break 43.05 - 43.31 and even reach long-term uptrend resistance area around 45-46. As scenario # 2 is in play for S&P 500, QQQQ has broken 43.31 resistance and is moving toward a long-term uptrend resistance area around 45-46

QQQQ - Long-Term Trend

QQQQ Short-term perspective: QQQQ weekly uptrend has resistance at 44.76, daily and weekly technical indicators are strongly overbought and MACD has bearish divergence. QQQQ long-term uptrend resistance is around 45-46.

QQQQ - Short-Term Trend

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QQQQ Trend Analysis - 11/17/2006

QQQQ Trend Analysis - 11/17/2006

It was an up week for the major markets. For the week, the Dow gained 1.9%, while the S&P 500 rose 1.5%, and the Nasdaq Composite climbed 2.3%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly Alerts QQQQ SPY

S&P 500 Long-term perspective: The S&P 500 is now near the long-term channel resistance line. For the last month we've considered two possible scenarios for S&P 500. 1. The S&P 500 index turns from the long&term channel resistance line and moves down until it reaches the channel support line. 2. S&P may form a rising wedge along the channel resistance line. Scenario # 2 is in play now. S&P is forming a rising wedge along the channel resistance line. S&P has bearish divergence that a rising wedge often forms. The current rising wedge presents wave 5 that is going to complete 5 waves impulse started on 6/14/2006.

S&P 500 Trend

QQQQ Long-term perspective: QQQQ broke the long-term resistance area between 43.05 and 43.31, and closed on Friday at 44.30. We considered two long-term QQQQ scenarios correlated with S&P 500 long-term perspective. 1. If S&P 500 scenario #1 is in play, then QQQQ is forming double top pattern and move down to retest its July low - 35.54. 2. If S&P 500 scenario #2 unfolds, QQQQ has chances to break 43.05 - 43.31 and even reach long-term uptrend resistance area around 45-46. As scenario # 2 is in play for S&P 500, QQQQ has broken 43.31 resistance and is moving toward a long-term uptrend resistance area around 45-46

QQQQ - Long-Term Trend

QQQQ Short-term perspective: While the QQQQ weekly uptrend has broken 43.31 resistance level and may be heading toward the long-term uptrend resistance area around 45-46, our short-term perspective is bearish. QQQQ is near the weekly uptrend resistance level, daily and weekly technical indicators are strongly overbought. S&P 500 has 150 overbought members while only 1 oversold.

QQQQ - Short-Term Trend

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