In our past few
reports we've mentioned how the negative divergence between the RSI indicator
and the price action has caused some traders to become cautious. As you can
see from the chart below, this story has not changed yet, as the QQQQ
continues to travel between $43.50 and $45.50. Traders looking to enter the
market may be comforted by the nearby support of the 100 DMA, which could be
a short-term catalyst that will send the QQQQ back toward the top end of its
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
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