truetradero
Short

QQQ at key resistance, expecting a correction towards 90.

NASDAQ:QQQ   POWERSHARES QQQ TRUST
The QQQ             has reached it's all time high monthly close near 109.50 and corresponding to important Fibonacci projections levels. We are exepcting a corrective down wave 4 towards 90. Only a new high on a weekly close above 109.50 would invalidate this bearish scenario.
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