• 4 hours Canopy Growth Eyes U.S. Pot Producer In $3.4B Takeover Deal
  • 7 hours U.S. Slaps New Sanctions On Cuba To End ‘Glamorization Of Communism’
  • 10 hours The Unstoppable Electric Bus Revolution
  • 12 hours Pinterest, Zoom Launch Much Anticipated IPOs
  • 1 day Marijuana’s Bizarre Bottleneck Isn’t What You’d Expect
  • 1 day Climbing Stocks Weigh On Gold, But A Turnaround May Be Near
  • 1 day China's Economic Growth Exceeds Analyst Expectations
  • 1 day Gold Prices Fall On Record Global Production Estimates
  • 2 days Can Meditation Make A Business More Profitable?
  • 2 days America’s Biggest And Most Profitable Actually Got Tax Rebates
  • 2 days Central Bank Gold-Buying Is Chipping Away At The Dollar
  • 2 days The Three Assets That Outperformed The S&P Over 20 Years
  • 3 days Inside China’s Renewed War To Purge the Internet
  • 3 days Trump Blames Fed For 10,000-Point Stock Market Loss
  • 3 days Musk Draws SEC Attention With Another Controversial Tweet
  • 3 days The Overlooked Factor Contributing To Inflation
  • 4 days Does Capitalism Need An Upgrade?
  • 4 days Next Major Stock Market Selloff Could Spark A Bull Run For Gold
  • 5 days Telecom War Gets Messy As 5G Speed Remains Undefined
  • 5 days Commodities Are Hot Again
Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

readtheticker

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

Contact Author

  1. Home
  2. Markets
  3. Other

Has All the Air Gone Out of the QQQs

Hot Air Baloon

The QQQ (Etf for NASD 100) as been breaking down, and like every other major index it is at a critical juncture. What to do, but the dip? Just like all the previous dips since March 2009, maybe.

The markets are waiting for Athens and the Fed minutes. Price normally bounces of strong support once, and then if the down trend has legs breaks on the second test of said support. So that is what we will do wait for the second test. You can bet the perma bulls will do all they can to get a rally going. Technically any rally that does eventuate will present it self as the right shoulder of a head and shoulders, and if you scan the major indexes for last 10 years the head and shoulders pattern has been there at the tops and bottoms. Waiting and watching.

QQQ

As you can see the QQQ is slowed down by the powerful cycle in the SOX. Where the SOX goes do does the NASDAQ!

SOX

 

Back to homepage

Leave a comment

Leave a comment