| QQQQ Trend Analysis - 6/02/2006 | ||||||||||||||||||||||||
| Daily trends for all three major indices – Dow Jones, S&P 500 and Nasdaq are up, but our long-term and short-term perspectives have not changed much. Below presented our QQQQ trend analysis and technical indicators. Move the cursor over the icons to see technical indicators and trend details. | ||||||||||||||||||||||||
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| Long term perspective: QQQQ long-term trend support is near 37.06 now. QQQQ did not reach this level yet. We still expect the chart at least re-test long-term trend support line once again. | ||||||||||||||||||||||||
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| Short term perspective: Short-term rally, that we expected, may not be over yet. Resistance area between 39.5 and 40 still holds. 1. If QQQQ is not able to break this level, then the chart will form a head and shoulder pattern with the right shoulder forming now. This pattern may break the long-term support line. 2. If QQQQ break resistance, then 41 – 41.5 is the next target. This move should complete the short-term rally and turn down to retest the long-term support. | ||||||||||||||||||||||||
| Have a nice day. | ||||||||||||||||||||||||
| www.thegreedytrader.com | ||||||||||||||||||||||||
Saturday, June 03, 2006
QQQQ Trend Analysis - 6/02/2006
