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| It was a negative week for the QQQQ. The QQQQ lost 2.79% for the week, not as bad as a week ago. At list market had two glorious days when it turned up sharply. Unfortunately for bulls, it did not last. |
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| Oscillators | Trend Analysis | | Symbol | Daily | Weekly | Daily | Weekly | Mtly | Qtly | Yrly | | QQQQ |  |  |  |  |  |  |  | |
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QQQQ Long-term technical analysis:
Our long-term perspective has not changed. The QQQQ has turned down from the long-term rising channel resistance. Weekly technical indicators are neutral. Long-term uptrend looks complete, and a first wave of the new downtrend is in progress. The weekly William's Percentage Range (W%R) is in oversold area. The oversold W%R is usually considered as an earlier warning indicator that signals exhaustion of the sharp down trend and predicts that it may slow down and reverse soon. The chart could be forming a 'Head and Shoulders' chart pattern, and the right shoulder is in process now. |
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QQQQ Short-term technical analysis:
The QQQQ reached our target at 46.5 exactly as we expected last week and reversed up sharply. The ABC zigzag that started on October 31 2007 at 55.07 is almost completed. The C wave is almost equal to the A wave. The Daily Lane's Stochastic (%D-Slow) technical indicator is oversold, and MACD has a Bullish Divergence. The bullish divergence indicates that down trend is loosing momentum and slowing down. The reversal may follow soon to retest the broken support trend line around 50. |
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| QQQQ - Short-Term Trend |  |
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| QQQQ - Medium-Term Trend |  |
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