The Powershares QQQ Trust Index (QQQQ) has closed for the last 13 days without price closing below the previous day’s low. This is a sign of strength but also a sign the market is overbought.
Entries Tagged as 'Powershares QQQ Trust (QQQQ)'
QQQQ and SPY ETFs Not Looking Strong
August 20th, 2009 7 Comments
The Powershares QQQ Trust ETF (QQQQ) has risen for three days on weak volume. Price remains below the high of last week and does not appear to be in position to push higher.
Low Volume Consolidation of Recent Bull Thrust
July 27th, 2009 2 Comments
The QQQQ and SPY are consolidation after a strong move up. My observations suggest that the short to intermediate term trend remains up.
Powershares QQQ Trust Gann Fans
May 28th, 2009 No Comments
The QQQQ never took out the 2002 which is bullish when compared to most other indices. Recent price action is less than strong so I expect more time is needed before a long term bull market can begin.
QQQQ Geometry of 2007 Price Range
November 7th, 2008 8 Comments
The Powershares QQQ Trust (QQQQ) shows price weakened after the bull move in 2007. Price hit the 50% time cycle at 100% retrace which is a bad sign for future price action. Price finished the time cycle at a 75% retrace. Price has now mirrored that move by hitting a 100% price move down at the 50% cycle.
QQQQ Nearing Time Cycles
October 29th, 2008 14 Comments
The Powershares QQQ Trust (QQQQ) is nearing a minor time cycle on 07Nov.
QQQQ Shows Another View of NDX
August 29th, 2008 No Comments
The chart of the Powershares QQQ Trust (QQQQ) shows the price is trapped below the 1×1 Gann angle near $48.
Volume Buying Picks Up in the Afternoon
August 20th, 2008 No Comments
Today was a high volume up day versus yesterday. Volume was still under the 50 day moving average but it should pick up tomorrow if we are moving up. Price hit SPX 1261 which was close enough to the 1260 retrace lines I discussed yesterday.
Tags: Powershares QQQ Trust (QQQQ) · Square of Range · Volume
Bounce is One Year from SP500 Selloff Last July
July 16th, 2008 No Comments
Today is July 16th 2008 and we had a large volume up day. It remains to be seen if this was a short term reflex reaction on the 52 week anniversary, or if a sustained move up occurs.
Tags: Accumulation Day · Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Price Retrace · Square of Range · Value Line Arithmetic Index (VLE) · Volume
Weekend Outlook – 13Jul08
July 13th, 2008 5 Comments
Price continues to make new lows on volume. I have noticed a few divergences to go along with the II and AAII surveys as positives.
Tags: Apple Computer (AAPL) · Biotechnology (BBH) · Gann Angle Fan · Market Cycles · Market Outlook · McClellan Index · Nasdaq Charts (IXIC) · Powershares QQQ Trust (QQQQ) · Russell 2000 Smallcaps · Volume
Good (not great) Day on High Volume
July 10th, 2008 No Comments
Volume was up on the SP500 Index (SPX) and Powershares QQQ Trust (QQQQ). Price was up over 1% but below the high of yesterday. Price needs to take out the recent highs quickly or the oversold condition will work itself off and bulls will be in big trouble.
Charts courtesy of Stockcharts.com
Tags: Accumulation Day · Powershares QQQ Trust (QQQQ) · Volume
QQQQ In A Strong Position
July 8th, 2008 7 Comments
The QQQQ rode the 2:1 descending Gann Angle down and bounced at the 1:1 ascending angle using the March to June range square. Price is now at the 50% retrace line and in a strong position to follow the 1:1 ascending angle up.
Tags: Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Slope · Square of Range · Volume
Nasdaq is Only Market That Looks Good
July 2nd, 2008 1 Comment
The NDX and QQQQ are bouncing right where they should. We need follow-through. But a high volume reversal day on all indices is a welcome sight for the bulls.
Tags: Gann Angle Fan · Nasdaq Charts (IXIC) · Powershares QQQ Trust (QQQQ) · Swing Charts · Volume
QQQQ In Strong Position as Internals Begin to Line Up
June 24th, 2008 No Comments
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.
Tags: Market Internals · Powershares QQQ Trust (QQQQ) · Volume
QQQQ Tests Low and Sets for 1:1 Angle Breakout
June 20th, 2008 1 Comment
Yesterday, the Powershares QQQ Trust (QQQQ) tested the recent low and made a high volume run at the 1:1 Gann Angle. The second attempt is usually easier than the first try at breaking a significant angle.
Tags: Breakout · Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Volume
Today’s Market Inactivity
June 17th, 2008 6 Comments
Not much to discuss tonight. Low volume action around the 1×1 Gann Angles of the March to May range. Yesterday was 90 days from the March low and nothing is happening. The SPX range from March has the 50% time line on June 20th with 1348 as the 50% price retrace (50/50 point).
Tags: Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Price Retrace · Volume
QQQQ Short Term Nearing Resistance
June 17th, 2008 4 Comments
The Powershares QQQ Trust (QQQQ) is almost at the 1:1 descending Gann Angle near $49 which should serve as resistance. If price does break through this angle then it should serve as support.
Tags: Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Volume
Friday Market Thoughts
June 13th, 2008 2 Comments
The volume buying on the SP500 Holders (SPY) and the Powershares QQQ Trust (QQQQ) occurred again today at the open and in the last half hour of the day.
Tags: Powershares QQQ Trust (QQQQ) · Volume
QQQQ Needs More Retrace
June 11th, 2008 3 Comments
Unless this market is much stronger than I think, the QQQQ looks like it needs to move to the $46-47 area before another leg up. That could happen in one day. And could happen interday and end the day with a new high.
Tags: A-B-C Correction · Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Price Retrace · Square of Range
Short Term Market Thoughts
June 4th, 2008 No Comments
Price and volume are interesting over the past couple days. Yesterday I posted about big volume buying in the Powershares QQQ Trust (QQQQ) and SP500 SPDRs (SPY).
Tags: Nasdaq Charts (IXIC) · Powershares QQQ Trust (QQQQ) · Volume