AI
Tuesday, March 02, 2010 2:20:11 PM
Follow-Up: QCOM, $COMPQ and QQQQ - QCOM bounced off of bullish channel bottom - BULLISH
Hi, 3x!
Yesterday, I warned shorts about the possibility that QQQQ might find its saving grace in QCOM, despite the fact that this top dog had single-handedly brought that index down.
As you mentioned today, QCOM did bounce handsomely. Chart below shows how solid the bullish channel (drawn on 01 AUG 2008!) has held in providing this momental support.
Overall, Nasdaq still has a lot of work overhead, which at this time remains a near impossible task unless world-wide fundamentals fires up some new energy in this index (See: $COMPQ "36-Month, WEEKLY" and "29-Year, MONTHLY" as well as QQQQ's "5-Year, WEEKLY" Charts below):
QCOM - 5-Year, MONTHLY Chart:
$COMPQ - 36-Month, WEEKLY Chart:,
$COMPQ - 29-Year, MONTHLY Chart:
QQQQ - 5-Year, WEEKLY Chart:
- Dalcindo
Hi, 3x!
Yesterday, I warned shorts about the possibility that QQQQ might find its saving grace in QCOM, despite the fact that this top dog had single-handedly brought that index down.
As you mentioned today, QCOM did bounce handsomely. Chart below shows how solid the bullish channel (drawn on 01 AUG 2008!) has held in providing this momental support.
Overall, Nasdaq still has a lot of work overhead, which at this time remains a near impossible task unless world-wide fundamentals fires up some new energy in this index (See: $COMPQ "36-Month, WEEKLY" and "29-Year, MONTHLY" as well as QQQQ's "5-Year, WEEKLY" Charts below):
QCOM - 5-Year, MONTHLY Chart:
$COMPQ - 36-Month, WEEKLY Chart:,
$COMPQ - 29-Year, MONTHLY Chart:
QQQQ - 5-Year, WEEKLY Chart:
- Dalcindo
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