My $10000 Dollars

PowerShares QQQ Trust – Nasdaq (QQQQ) Market made quite a comeback this past week, similar to what we saw in early September.  This is why “one distribution week doesn’t make any trend”.  It bounced off nicely from the 50 day MA near the support and is looking to test the previous highs.  Many I follow [...]

PowerShares QQQ Trust – Nasdaq (QQQQ) With big distribution week, Nasdaq QQQQ now broke through the rising wedge.  It even broke through the resistance around $41 and the volume was pretty good.  This is now looking like an opportunity for me.  For those of you patiently waiting for the right timing, this may be your [...]

PowerShares QQQ Trust – Nasdaq (QQQQ) While QQQQ is still trading within the rising wedge channel, it is testing the resistance now.  Given last week’s distribution, I would be very cautious as a long, paying close attention to the prices in the next few weeks.  Now this could also mean it’s a buying opportunity, and [...]

PowerShares QQQ Trust – Nasdaq (QQQQ) Nasdaq continues to trade within the rising wedge pattern.  Since breaking out from the resistance, it’s going strong.  If you’re thinking of going long, keep your stops tight as it’s approaching the top of the rising wedge.  Nasdaq could break through and continue higher, but the risk of a [...]

PowerShares QQQ Trust – Nasdaq (QQQQ) Nasdaq continues to trade within the rising wedge pattern.  Unlike the presumption made last week around how it may be forming a head-and-shoulders pattern, QQQQ broke the resistance and made a new high.  The bulls are very strong still, and it continues to bully around the bears.   Like I [...]

PowerShares QQQ Trust – Nasdaq (QQQQ) Nasdaq QQQQ bounced back up from the trendline aiming to test the previous high.   Now that many investors are coming back from a low trading month, you should expect to see more volatility.  It will be interesting to see if it manages to reach the previous high of $41 [...]

SPDR Gold Trust (GLD) broke out of its symmetrical triangle continuation pattern today.  This is definitely a good news for the bulls holding their long position.  It’s still too early to say whether this will hold or not, but I am going to keep an eye on gold for the next few days.  If this [...]

Nasdaq (QQQQ) Last week ended up being a consolidation week for many indices.  Nasdaq stayed flat throughout the week except Friday which opened significantly higher.  However, even Friday’s initial strength faded during the day, closing the week pretty flat.   At this point, there is no reason to think that the bullish trend is ending, but [...]