| QQQQ Trend Analysis - 9/29/2006 |
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| Bull did a great job in September and brought Dow Jones near the all-time high. It is exhausted now and need a rest. For the week QQQQ climbed 0.95 points, or 2.32 percent. |
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| Oscillators | | Symbol | Daily | Weekly | Daily | Weekly | Monthly | Quarterly | Yearly | | QQQQ |  |  |  |  |  |  | | | DIA | |  |  |  |  | | | | SPY | | | | |  |  | |
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Long-term perspective:
There are no changes in our long-term perspective. The current wave up that started on 7/18/2006 appears pretty strong and broke the long-term downtrend resistance. It might be a first sub wave of a new long-term uptrend. That sub wave looks complete. We expect the market to turn down for the correction that will take about a month. Then the market will resume up move into the year's end. |
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| QQQQ - Long-Term Trend |  |
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Short-term perspective:
All three major U.S. stock indices are overbought weekly and daily. QQQQ did not break the weekly rising channel and now is close to the resistance level (41.07 for Monday). Our technical signals are pointing that the market is near the top. DIA and SPY both have the Uptrend Exhaustion alerts. |
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| QQQQ - Short-Term Trend |  |
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| Presented by www.thegreedytrader.com Research Group. |
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