The Weekly Report for March 19th - March 23rd, 2007In our last report, we mentioned that the 15-day moving average was setting up to cross below the 100-day moving average. We noted that this bearish crossover could be used as a sign that the short-term direction of the QQQQ will remain downward. As you can see from the chart below, Friday's failed move above the 15 DMA suggests that it will continue to act as a level of short-term resistance and that we could see the QQQQ drift toward the longer-term support of its 200-day moving average.
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