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| All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 243.72 points, or 1.78%. The Standard & Poor's 500 Index lost 28.67 points, or 1.87%, while the Nasdaq Composite dropped 40.38 points, or 1.54%. |
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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 is not over yet. The fifth wave is near completion. The QQQQ is near the long-term channel resistance. The uptrend should be close to the top as the price is near the resistance line. Weekly Lane's Stochastic is overbought. The QQQQ is near the long-term trend resistance line. For the long-term we keep bearish perspective. |
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| QQQQ - Trend |  |
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QQQQ Short-term perspective:
The QQQQ price (46.91) broke the weekly rising trend support line. Next week chart may retest the broken weekly support line (47.14), which became a resistance line now. |
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| QQQQ - Trend |  |
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