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| It was a negative week for the QQQQ. It lost 3.00% during the week. As we suggested last week, the QQQQ has reached the long-term support area around 42 and turned up. |
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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. Long-term uptrend is completed, and a first wave of the new long-term downtrend is in progress. Weekly technical indicators are neutral. |
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| QQQQ - Long-Term Trend |  |
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QQQQ Short-term technical analysis:
The current down trend started on October 31 2007 at 55.07. It has reached the long-term support area around 42 on Tuesday, Jan.22. The downtrend might unfold as a five waves impulse structure. Daily technical indicators are neutral. The QQQQ is close to several important support lines. The third sub wave is in process now. Price could make several attempts to break the support line. That would form the fourth and fifth sub waves of the current down trend. |
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| QQQQ - Short-Term Trend |  |
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| Presented by www.thegreedytrader.com Research Group. |
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