Monday, March 29, 2010

QQQQ signals

Today QQQQ is showing 3 signals of near term top:
  • RSI curve trying to move below the overbought region
  • A doji on the daily candlestick chart
  • MACD crossing the signal line from above
These 3 signals together suggest that the market might be ready for another correction. Whether this area becomes 'THE' top for a longer term remains to be seen.

Disclosure: No position in mentioned security.