APosner

$QQQ begins a consolidation 06-11-2014

NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
In a chart similar to SPY             , QQQ             has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but some selling is bound to occur.
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