| QQQQ Trend Analysis - 6/09/2006 |
| Last week QQQQ was not able to break resistance area at 40 and moved down sharply. It lost 3.76% and made a lower low - 37.49. The table below presents QQQQ trend analysis and technical indicators. |
| Oscillators | Trend Analysis |
Symbol |
Daily |
Weekly |
Daily |
Weekly |
Monthly |
Quarterly |
Yearly |
| QQQQ |
 |
 |
 |
 |
 |
 |
 |
|
Long term perspective:
Our long-term perspective has not change. A long-term channel started in mid 2003 and the current short-term wave is moving down from a channel resistance toward a channel support level. QQQQ now is very close to the long-term support trend line (37.0 – 37.5). Longer term trend analysis and weekly technical indicators are suggesting that down wave may break long-term support trend line. |
|
| QQQQ - Monthly Trend |  |
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Short term perspective:
Price is very close to both short-term and long-term support lines. Lane’s stochastic and MACD both show bullish divergence. In addition, weekly William"s Percentage Range (W%R) indicator is in oversold area. QQQQ may have short-term rally from 37.0 – 37.5 support area. But on the other hand, since daily and weekly oscillators are not in oversold area yet the down trend is not complete. QQQQ most likely will continue to oscillate along downtrend support or resistance line until daily and weekly oscillators are in oversold area. |
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| QQQQ - Weekly Trend |  |
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| Have a nice day. |
| www.thegreedytrader.com |
