Sunday, April 22, 2007

QQQQ Trend Analysis - 4/20/2007

It was an up week for the major markets. For the week, the Dow Jones Industrial Average was up 349.85 points, or 2.77%. The Standard Poor's 500 Index gained 31.50 points, or 2.17%, while the Nasdaq Composite climbed 34.45 points, or 1.38%.
OscillatorsTrend Analysis
SymbolDailyWeeklyDailyWeeklyMtlyQtlyYrly
QQQQRelative Strength Index (RSI): 78.08 William"s Percentage Range (W%R): 5.8 Lane"s Stochastic (%D-Slow): 89.92 %D-Slow - Bearish Divergence MACD - Bearish DivergenceRelative Strength Index (RSI): 53.12 William"s Percentage Range (W%R): 4.2 Lane"s Stochastic (%D-Slow): 62.76Pattern: Uptrend Low: 43.10 - 03/29/07 High: 45.67 - 04/20/07 Current Price: 45.4Pattern: Rising Channel Status: Valid Low: 42.06 - 03/05/07 High: 45.67 - 04/20/07 Support: 44.25 (± 0.12) Resistance: 45.54 (± 0.12) Current Price: 45.4Pattern: Uptrend Low: 42.06 - 03/05/07 High: 45.67 - 04/20/07 Current Price: 45.4Pattern: Rising Wedge Status: Valid Low: 34.35 - 04/29/05 High: 45.67 - 04/20/07 Support: 43.05 (± 0.27) Resistance: 46.06 (± 0.27) Current Price: 45.4Pattern: Rising Wedge Status: Valid Low: 32.35 - 08/13/04 High: 45.67 - 04/20/07 Support: 39.89 (± 0.54) Resistance: 45.85 (± 0.54) Current Price: 45.4
QQQQ Long-term perspective:
The QQQQ monthly uptrend that started in June 2006 could be not over yet. Fifth wave might be still in process. The QQQQ is retesting the long-term channel resistance. The uptrend should be close to the top as the price is near the resistance line, and weekly William's Percentage Range is in strong overbought area.
QQQQ - Trend
Technical Stock Market Timing System
QQQQ Short-term perspective:
Daily William's Percentage Range is in strongly overbought area and Lane's Stochastic is overbought. Technical indicators suggest a weaker market for the next week.
QQQQ - Trend
Technical Stock Market Timing System
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