| All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 86.04 points, or 0.70%. The Standard & Poor"s 500 Index lost 4.24 points, or 0.30%, while the Nasdaq Composite dropped 47.05 points, or 1.91%. |
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| Oscillators | Trend Analysis | Candle | | Symbol | Daily | Weekly | Daily | Weekly | Mtly | Qtly | Yrly | sticks | | QQQQ |  |  |  |  | |  |  |  |
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QQQQ Long-term perspective:
The weekly uptrend that started on 7/18/2006 is complete or near completion. QQQQ is very close to the long-term uptrend resistance line near 45-46 area. This resistance level should not be broken. After reaching the long-term uptrend resistance trendline, QQQQ should go down in the direction of long-tern support. |
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| QQQQ - Long-Term Trend |  |
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QQQQ Short-term perspective:
QQQQ weekly technical indicators are still strongly overbought. The price is near the weekly uptrend support line. Chances are high that weekly uptrend is over, and QQQQ will break the support line. In case the support holds, there is a slight possibility that QQQQ make a new attempt to reach the long-term uptrend resistance around 45-46. |
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| QQQQ - Short-Term Trend |  |
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