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.
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
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