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| All the major US indices were negative. For the week, the Dow Jones Industrial Average lost 279.22 points, or 2.05%. The Standard Poor's 500 Index gave back 30.35 points, or 1.98%, while the Nasdaq Composite dropped 37.75 points, or 1.44%. |
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| Oscillators | Trend Analysis | | Symbol | Daily | Weekly | Daily | Weekly | Mtly | Qtly | Yrly | | QQQQ |  |  |  |  |  |  | | |
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QQQQ Long-term perspective:
Our long-term perspective has not changed. The QQQQ monthly uptrend that started in June 2006 might be complete or close to completion. The QQQQ is near the long-term channel resistance line. Weekly William's Percentage Range is strongly overbought and Lane's Stochastic is overbought. For the long-term we keep bearish perspective. The QQQQ long-term support trend line is around 40. |
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| QQQQ - Trend |  |
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QQQQ Short-term perspective:
The QQQQ daily William's Percentage Range is overbought. MACD and Lane's Stochastic have bearish divergence. Price is near the weekly channel support 47.37. The recent market sell off could present a long-term trend reversal. Breaking the channel support line would confirm the reversal. |
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| QQQQ - Trend |  |
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