CurtisM

QQQ Daily, 04/04/2014: Q's continue their A-B-C down move

NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
389 0 1
Q's down big on four times average volume which suggests selling exhaustion for now. We could easily see a bounce to the falling trend line and maybe another failure to break through.

I haven't drawn in the lower, parallel trend line due to clutter, but this looks like a big bull flag to me. We drop into the 82's and then this morphs into a down trend.

At this point in time and subject to change, it does appear that the Q's will reach the Fib extension of 83.51. For now, and until there are clear signs that the Q's have bottomed and are reversing, I am avoiding this sector.

Be careful and GL in the week ahead.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out