Stock Incubator

[dalcindo]

Re: QQQQ - BEARISH, but SHORTS BEWARE!!!:

What's up with QCOM ... Or, more like: what's down with it?

According to the daily QQQQ chart below, QCOM has not found the bottom and continue to dig deeper and deeper.

In fact, this second-ranking stock within the QQQQ has managed to break the QQQQ's bullish rally all on its own, which started in MAR 2009, but per this chart, ended in the third week of JAN 2010 (violation of the BLUE supportive trendline).

The Line Chart:
Despite the bearish breakdown of QCOM, the line elements within the QQQQ chart below does manage to speak of hopeful momentums.

CAVEAT - Interestingly though, the saving grace for QQQQ may actually come from QCOM itself, as per the WEEKLY chart below, this stock has closed this week right at its support level. So, shorts, BEWARE!!!

1 - While MSFT shows that it did carve a bottom,
2 - AAPL is renewing its bullish run towards prior HIGHs,
3 - and GOOG just finished defining a strong supportive bottom.

(AAPL, QCOM, MSFT and GOOG charts posted below)

OVERALL - I agree with your PUTs directional favor, Lang. QQQQ remains a down-trending index, until proven otherwise:


QQQQ - Top 4 Holdings: AAPL, QCOM, MSFT, GOOG - 12-Mo., Daily:



AAPL - 5-Year, MONTHLY chart:



QCOM - 5-Year, MONTHLY Chart:



MSFT - 36-Month, WEEKLY Chart:



GOOG - 36-Month, WEEKLY Chart:




- Dalcindo