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| Last week we had expected QQQQ to resume the downtrend. All the major US indices were negative for the week. The Dow Jones Industrial Average dropped 244.36 points, or 1.83%. The Standard Poor's 500 Index dropped 20.44 points, or 1.39%, while the Nasdaq Composite dropped 30.66 points, or 1.18%. |
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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 long-term five years old bull market could be over and a new long-term down trend just started. The price is still near the long-term rising channel resistance. In the long-term we expect QQQQ moving down toward the long-term channel support. |
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| QQQQ - Long-Term Trend |  |
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QQQQ Short-term perspective:
Daily William's Percentage Range (W%R) is overbought. Daily uptrend started on Aug.16 is forming a rising channel. Price is near the channel support line. With the W%R still overbought QQQQ may break the support line, but if support holds the QQQQ could rise toward the daily channel resistance around 51. |
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| QQQQ - Medium-Term Trend |  |
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