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| Last week we expected the QQQQ's rebound. There was a sharp move up on Monday, but the QQQQ could make it only to 48.01. Despite of the earlier rebound, it was a negative week for the QQQQ. The QQQQ lost 3.61% for the week. |
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| Oscillators | Trend Analysis | | Symbol | Daily | Weekly | Daily | Weekly | Mtly | Qtly | Yrly | | QQQQ |  |  |  |  |  |  |  | |
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QQQQ Long-term technical analysis:
Our long-term perspective has not changed. The QQQQ has turned down from the long-term rising channel resistance. Weekly technical indicators are neutral. Long-term uptrend looks complete, and a first wave of the new downtrend is in progress. The weekly William's Percentage Range (W%R) is strongly oversold. The oversold W%R is usually considered as an earlier warning indicator that signals exhaustion of the sharp down trend and predicts that it may slow down and reverse soon. The chart could be forming a 'Head and shoulders' chart pattern, and the right shoulder is in process now. |
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| QQQQ - Long-Term Trend |  |
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QQQQ Short-term technical analysis:
The current down trend started on October 31 2007 at 55.07. It is pretty strong and powerful, and the QQQQ lost already 16.2%. It might unfold as a five waves impulse structure and reach a long-term trend support line around 42. The third sub wave is in process now. The third sub wave is usually the longest and the strongest wave, but technical indicators are already in the oversold area, and the QQQQ is close to several important support lines. |
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| QQQQ - Short-Term Trend |  |
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