| QQQQ Trend Analysis - 7/14/2006 |
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| We have suggested in our long-term perspective that QQQQ is going to break the long-term channel support line. Finally last week our prediction was fulfilled and QQQQ broke down the support level 37.36 to end the week at 35.94. During the week QQQQ fell 4.7% percent. Nasdaq had the worst three-day decline since April 2005. |
Long-term perspective:
We consider that monthly down trend that has broken long-term channel is not over yet, but might be close to the final stage. The following rally should make a lower high to confirm the new long term down trend. |
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| QQQQ - Long-Term Trend |  |
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Short-term perspective:
QQQQ is oversold in daily and weekly time frames and has the 'Downtrend Exhaustion' alert. It suggests that QQQQ is ready for a short-term rally or at least a consolidation period. On the other hand DIA and SPY are far from oversold. They may effect the QQQQ behavior and postpone the rally. |
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| QQQQ - Short-Term Trend |  |
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