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arthur
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PostPosted: Thu Jan 06, 2005 5:52 pm    Post subject: QQQQ Chart Reply with quote
The second leg of the cyclical bull market (within a structural bear market) started in Aug, when Nasdaq led the rally. Currently, QQQQ is near the Aug uptrend line. QQQQ fell on lighter volume, which may indicate selling is drying-up (QQQQ volume tomorrow may indicate direction over the next few weeks). Short-term resistance is at previous lows around 39 and the short-term MAs. The oscillator (ULT) is severely oversold, indicating a small or large bounce soon.

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