aravindran1
Short

How far will this bounce go ??

NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
It' hard to narrow down exactly where the QQQ's could hit resistance, since the SPY/DIA are still above their pivots . But I have two tentative points. Either we test the 50 ema and sell or form a H&S pattern. Both scenarios will favour my bullish gold             thesis. Although i prefer the former. (as GDX             is at it last level of retracement before turning bearish .) The reason for this discrepancy, in IWM/QQQ and SPY/DIA is a result of investors rotating to safer dividend paying stocks especially in the oil             and gas industries, and consumer staples             . It a good place to put your money besides bonds, since they pay dividends. This is not a good sign for the broader market if investors are flocking to safer investments.
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