The QQQQ spent most of last week wavering around the support/resistance of the mentioned ascending trendline. The lack of upward momentum is causing traders to ask themselves whether the bull rally has become over-extended or if this is just a period of consolidation before the trend continues. As you can see from the chart below, the 100-day moving average has recently crossed above the 200-day moving average, which can be used to predict the beginning of a longer-term uptrend. We believe that the upward momentum may be getting exhausted in the short-term, but it could prove disastrous for traders looking to short the QQQQ because the moving averages are now in the proper order that traders look for when confirming a strong uptrend.