The QQQQ remains above the 50% price retrace level and volume is falling off in the last few days. This is not super bullish, (not above the 1:1 descending angle), but it is much stronger than the market “feels” based on media commentary.
Chart courtesy of Stockcharts.com
The T2108 (from the TC2007 program) shows the percentage of stocks above the 40 day moving average. This metric is useful at the lows as bottoms over time usually look the same with this chart. There is still some room to move down with the 20 day moving average.
Post Modified: July 2nd, 2008 at 11:56 pm
Tags: Market Internals · QQQQ · VolumeNo Comments
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