PowerShares QQQ Trust (QQQQ) Chart
I looked back on my past two charts on the QQQQ and saw how accurate I was. This is the kind of thinking that makes me lose at blackjack in Vegas. I’m right two times so I up my bets as if that makes my next bet a lock to win. Now I’ve started thinking of buying options on the QQQQ.
OK, maybe I exaggerated my accuracy a little, but it got you to start reading the second paragraph. I said the QQQQ would come back down to the 50-51 range. It actually had intra-week lows in the upper 48s, but the low close was only 49.84 two weeks ago, so I’m claiming that for being in my 50-51 range. Anyway, the pressure is on now for sure.
I charted the six month daily chart this time. A bullish cross-over of the 10 day and 20 day moving averages seems to be only days […]
Original post by Alex Fotopoulos