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| It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 536.02 points, or 4.39%. The Standard Poor&s 500 Index gained 64.81 points, or 4.87%, while the Nasdaq Composite gained 87.16 points, or 3.75%. Nasdaq 100 Trust Shares (QQQQ) raised 3.64% during the week. |
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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. Daily technical indicators are neutral. The third sub wave was completed on Tuesday, Jan.23 when QQQQ has reached the long-term support area at 41.61. The fourth wave is in progress now. Price may retest the support line later. |
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| QQQQ - Short-Term Trend |  |
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| Presented by www.thegreedytrader.com Research Group. |
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