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 [...]

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 [...]

Nasdaq (QQQQ) Quite a turn of event.  Even though NASDAQ broke through the support level slightly and appeared to have formed a double top bearish pattern last week, QQQQ quickly turned its direction this week.  It was definitely a reverse free fall, and I’m betting many bears got caught in it without a chance to [...]