Sunday, March 18, 2007

QQQQ Trend Analysis - 3/16/2007

All the major US indices were negative. For the week, the Dow Jones Industrial Average dropped 165.91 points, or 1.35%. The Standard Poor's 500 Index lost 15.90 points, or 1.13%, while the Nasdaq Composite gave back 14.89 points, or 0.62%
OscillatorsTrend Analysis
SymbolDailyWeeklyDailyWeeklyMtlyQtlyYrly
QQQQRelative Strength Index (RSI): 32.15 William"s Percentage Range (W%R): 75.1 Lane"s Stochastic (%D-Slow): 56.99Relative Strength Index (RSI): 45.73 William"s Percentage Range (W%R): 66.5 Lane"s Stochastic (%D-Slow): 43.70Pattern: DownTrend High: 43.34 - 03/09/07 Low: 42.10 - 03/14/07 Current Price: 42.83Pattern: Uptrend Low: 42.06 - 03/05/07 High: 43.34 - 03/09/07 Current Price: 42.83Pattern: DownTrend High: 45.55 - 02/22/07 Low: 42.06 - 03/05/07 Current Price: 42.83Pattern: DownTrend High: 45.55 - 02/22/07 Low: 42.06 - 03/05/07 Current Price: 42.83Pattern: Rising Wedge Status: Valid Low: 32.35 - 08/13/04 High: 45.55 - 02/22/07 Support: 39.62 (± 0.55) Resistance: 45.73 (± 0.55) Current Price: 42.83
QQQQ Long-term perspective:
Our long-term perspective has not changed. The QQQQ uptrend had formed the rising wedges termination pattern. The rising wedge support line is broken and the sharp decline confirmed the trend reversal. Waves structure and technical indicators suggested that a new long term down trend has started on Feb. 27. The price is moving down toward the yearly channel support line that is currently around 39.62.
QQQQ - Trend
Technical Stock Market Timing System
QQQQ Short-term perspective:
Market rebound from the oversold area. Short-term consolidation is in progress. QQQQ daily and weekly technical indicators are natural.
QQQQ - Trend
Technical Stock Market Timing System
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