Friday, May 14, 2010

NASDAQ ETF (QQQQ) Observation


Heres a Q's chart, it is obvious that we had a no demand day followed by a down day, this isn't a very good sign as bears may be overcoming scared bulls and as a law in economics and business when supply overcomes demand prices decline. Moving averages have also started crossing over signaling indecision. All this after the EURO bailout isnt a good sign, things dont look too bright for the bulls for now.

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