After a long run now the trend is side way since Jan 2014.
The support uptrend which was intact since end of 2012 is broken in May.
There is also a support trend since Dec 2013, which broken once in Feb 2014.
On the other hand 170 is a psychological support,.
So next resistance is 171.7
But watching the chart squeezing between downward channel, SMA 20 &50
and on...
The General trend is downward.
And there is lower high , and lower lows.
In a closer look the uptrend from early 2014 is broken.
And there is a good support @ 0.92
If it break the 0.;92 I'll go short .
But if it break the upper side of the falling trend. It could be a
continuation pattern and I'll be long.
Bear pennant formation in daily chart.
The price is now support by 20 SMA ( Not a big support) and also the trend line.
If QQQ close under the trend line , then I will be bearish, and will go short.
