| All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 49.25 points, or 0.36%. The Standard Poor''s 500 Index lost 7.02 points, or 0.46%, while the Nasdaq Composite gave back 1.26 points, or 0.05%. |
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| Oscillators | Trend Analysis | | Symbol | Daily | Weekly | Daily | Weekly | Mtly | Qtly | Yrly | | QQQQ |  |  |  |  |  |  |  | |
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QQQQ Long-term perspective:
Our long-term perspective has not changed. The QQQQ monthly uptrend that started in June 2006 is not over yet. The fifth wave is still in progress and near completion. The QQQQ is near the long-term channel resistance. The uptrend should be close to the top as the price is near the resistance line. Weekly Lane's Stochastic is strongly overbought. The QQQQ daily William's Percentage Range (W%R) and Lane's Stochastic both have bearish divergence. |
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| QQQQ - Trend |  |
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QQQQ Short-term perspective:
The QQQQ price (46.45) broke the weekly rising trend support line. Next week chart may retest the broken weekly support line (46.64), which became a resistance line now. For the long-term we keep bearish perspective. |
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| QQQQ - Trend |  |
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