| QQQQ Trend Analysis - 9/22/2006 |
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| All three major U.S. stock indices were down last week despite FED's decision to keep interest rates steady for the second month in a row. They are still overbought weekly and S&P 500 MACD has bearish divergence. QQQQ lost 0.24 points, or 0.6%, for the week. |
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| Oscillators | | Symbol | Daily | Weekly | Daily | Weekly | Monthly | Quarterly | Yearly | | QQQQ |  |  |  |  |  |  | |
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Long-term perspective:
The current wave up that started on 7/18/2006 appears pretty strong and broke the long-term downtrend resistance. It might be a first sub wave of a new long-term uptrend. That sub wave looks complete. We expect the market to turn down for the correction that will take about a month. Then the market will resume up move into the year's end. |
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| QQQQ - Long-Term Trend |  |
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Short-term perspective:
QQQQ formed a strong weekly rising channel with support at 39.22 and resistance at 40.68 for Monday. Weekly Lane's Stochastic and daily Williams' Percentage Range are still in overbought area. It does not give QQQQ a room for a strong rally, and chances are high that QQQQ will break the weekly up trend support line and move down until technical indicators are reset. It may take from 2 to 5 weeks. |
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| QQQQ - Short-Term Trend |  |
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| Presented by www.thegreedytrader.com Research Group. |
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