| It was a negative week for the QQQQ. The QQQQ lost 5.54% for the week. On Friday QQQQ lost 4.39% the biggest daily percentage drop since January 2002. |
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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 has turned down from the long-term rising channel resistance. Weekly technical indicators are neutral. Long-term uptrend looks complete or near completion, and a first wave of the new downtrend is in progress. |
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QQQQ Short-term perspective:
After several attempts to break the support trend line the QQQQ was able to penetrated the support moving down sharply last week. The current down wave started on October 31 2007 at 55.07 is forming the ABC zigzag. The B wave presented a Bear Flag chart pattern that usually represents a brief pause after a sharp move in a dynamic market. The C wave is in progress now. In zigzag formation the C wave is usually equals the A wave. In this case the target should be around 46.5. Daily technical indicators are neutral, but if the down move continues, they will turn to the oversold pretty soon. |
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| QQQQ - Short-Term Trend |  |
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| QQQQ - Medium-Term Trend |  |
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