November 4, 2012

QQQ Weekend update

  • QQQ Daily chart shows price getting resisted at 100 Day SMA.
  • Price closed just below 200 Day SMA with a Bearish Engulfing pattern. Further down move on falling below 64.73 levels.
  • Price may test 50 Week SMA during next week. 
  • Weekly stochastic continue to move down without any hint of a turnaround. Price staying below the weekly up trend line will add to the pain of Bulls.

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