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The QQQQ Report for January 22th - January 19th, 2007
Casey Murphy - January 22, 2007


In our last report, we mentioned that the QQQQ was approching the resistance of its medium-term trendline. As you can see from the chart below, the bulls were unable to send the QQQQ above the resistance, which has caused a brief pullback toward the 15-day moving average. The next price target will be near the 100-day moving average if we see the bears send the QQQQ below the $44 support.

 


Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor


 Previous Chart Alerts:    OIL   QQQQ   OXY   QQQQ   INTL   QQQQ   EBAY   QQQQ   BJ   ECA   GYI   GYI   QQQQ   GM   WMB   QQQQ   AMZN   QQQQ   PCAR   QQQQ   WMT  


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