Nasdaq 100 Trust Shares (QQQQ) Trend Analysis - 2/22/2008

The QQQQ has dropped below the Lower Bollinger Band level.

It was a mixed week for the major markets. For the week the Dow Jones Industrial Average climbed 32.81 points, or 0.27%. The Standard Poor's 500 Index climbed 3.12 points, or 0.23%, while the Nasdaq Composite gave back 18.45 points, or 0.79%.

QQQQ Long-term technical analysis: Our long-term perspective has not changed. The QQQQ has turned down on October 31 2007 from the long-term rising channel resistance. The long-term uptrend is completed, and a first wave of a new long-term downtrend is in progress. Weekly William's Percentage Range (W%R) is oversold.

QQQQ Short-term technical analysis: The current down trend started on October 31 2007 at 55.07. A third sub wave was completed on Tuesday, Jan.23 when QQQQ has reached a long-term support area at 41.61. A fourth sub wave is in progress now and forming a symmetric triangle pattern.

QQQQ - Mid-Term Trend

On Friday QQQQ has dropped below the Lower Bollinger Band level (42.86) reaching a symmetric triangle support line around 42.86. Then during the last trading hour, it has rallied gaining more than 2.5% and forming a Dragonfly Doji candlestick pattern. This pattern may signify the trend pause or reversal depending on where the Doji occurs. The Dragonfly Doji candlestick pattern is likely to mark a reversal when it accrues at a support/resistance level or at the lower/upper Bollinger band. A Bullish Dragonfly Doji has moderate reliability and it is considered as more reliable reversal signal, if the next trading day is characterized by one of the following: a white candlestick, a large gap up or a higher close.

QQQQ - Short-Term Trend

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The QQQQ is forming a symmetric triangle pattern

Nasdaq 100 Trust Shares (QQQQ) Trend Analysis - 2/15/2008

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 166.08 points, or 1.36%. The Standard Poor's 500 Index gained 18.70 points, or 1.40%, while the Nasdaq Composite climbed 16.95 points, or 0.74%.

QQQQ Long-term technical analysis: Our long-term perspective has not changed. The QQQQ has turned down on October 31 2007 from the long-term rising channel resistance. Long-term uptrend is completed, and a first wave of the new long-term downtrend is in progress. Weekly William's Percentage Range (W%R) and Lane's Stochastic are oversold.

QQQQ - Long-Term Trend

QQQQ Short-term technical analysis: The current down trend started on October 31 2007 at 55.07. The third sub wave was completed on Tuesday, Jan.23 when QQQQ has reached the long-term support area at 41.61. The fourth sub wave is in progress now and forming a symmetric triangle pattern. A symmetric triangle chart pattern is usually considered as a continuation formation that signals a period of consolidation in a trend followed by a resumption of the prior trend, but also it may mark the trend reversal. As a continuation pattern, symmetric triangle usually appears within the young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. A symmetric triangle resets short-term indicators to neutral and then continues movement in long-term trend direction. As a reversal formation, symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. Volume diminishes during the formation and explodes on breakout. On the QQQQ chart below you can see that volume diminishes during the triangle formation and the daily Lane's Stochastic was reset to neutral. Considering that weekly technical indicators are oversold, the current triangle may mark the reversal. The triangle breakout to the upside may reach the trend resistance area around 47-48. In case of triangle breakout down, the price may drop sharply to the trend support area below 40.

QQQQ - Short-Term Trend

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Nasdaq 100 Trust Shares (QQQQ) Trend Analysis - 2/1/2008

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 536.02 points, or 4.39%. The Standard Poor&s 500 Index gained 64.81 points, or 4.87%, while the Nasdaq Composite gained 87.16 points, or 3.75%. Nasdaq 100 Trust Shares (QQQQ) raised 3.64% during the week.

QQQQ Long-term technical analysis: Our long-term perspective has not changed. The QQQQ has turned down from the long-term rising channel resistance. Long-term uptrend is completed, and a first wave of the new long-term downtrend is in progress. Weekly technical indicators are neutral.

QQQQ - Long-Term Trend

QQQQ Short-term technical analysis: The current down trend started on October 31 2007 at 55.07. Daily technical indicators are neutral. The third sub wave was completed on Tuesday, Jan.23 when QQQQ has reached the long-term support area at 41.61. The fourth wave is in progress now. Price may retest the support line later.

QQQQ - Short-Term Trend

Presented by www.thegreedytrader.com Research Group.