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) 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 [...]

Looking at the 20 yr chart for ETF following the S&P 500 – SPDR S&P 500 ETF (PCX: SPY), I noticed an interesting development going into May.  As many of you have most likely seen this double top S&P chart elsewhere, the long-term trend on SPY is looking very bearish with the double top pattern.   [...]