NASDAQ:QQQ POWERSHARES QQQ TRUST
This correction in the QQQ should come as no surprise. The on the 1 & 2 month frames was well in the overbought area and the weekly had been forming a negative divergence. On the 2 month frame price most likely corrects down to the top of channel 1 support. On the weekly frame price is currently at a , if falls below the next near term support is at S1.