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In our last
report, we mentioned that the RSI indicator has been creating a series of
lower highs while the QQQQ has continued to move sideways. This negative
divergence continues to be a factor that is causing many traders to question
the conviction of the longer-term uptrend. We believe that the 100 DMA is
still an adequate short-term target as the QQQQ continues its consolidation.
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Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
GGG
QQQQ
BA
QQQQ
WMB
QQQQ
OIL
QQQQ
OXY
QQQQ
INTL
QQQQ
EBAY
QQQQ
BJ
ECA
GYI
GYI
GM
WMB
AMZN
QQQQ
PCAR
QQQQ
WMT
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