The sharp drop below the 100-day moving average quickly erased all gains made by the bulls so far in 2007. As you can see from the chart, the bears sent the QQQQ below the 100 DMA for the first time since August 2005, which is causing some traders to wonder if the next stop will be near the 200 DMA. Another interesting thing that we noticed is that the 15-day moving average looks like it is setting up to fall below the 100-day moving average. Notice how the last bearish crossover in May 2006 signaled a sharp correction. It will be interesting to see if this will happen again.Δευτέρα, Μαρτίου 12, 2007
NASDAQ- QQQQ DAILY CHART
The sharp drop below the 100-day moving average quickly erased all gains made by the bulls so far in 2007. As you can see from the chart, the bears sent the QQQQ below the 100 DMA for the first time since August 2005, which is causing some traders to wonder if the next stop will be near the 200 DMA. Another interesting thing that we noticed is that the 15-day moving average looks like it is setting up to fall below the 100-day moving average. Notice how the last bearish crossover in May 2006 signaled a sharp correction. It will be interesting to see if this will happen again.
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