The QQQ ETF tracking the Nasdaq 100 is lower by 0.25% as a result.
The weekly chart shows that QQQ is right in the middle of its weekly Starc bands.
Last June the break of the downtrend in the OBV, line c, signaled that QQQ was bottoming.
The Powershares QQQ Trust ( QQQ) was up 1.3% Thursday, and the March high has been overcome.
If you have the Nasdaq QQQ, Apple, Google tends to overwhelm everything else in there.
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The PowerShares QQQ Trust ( QQQ) violated its daily uptrend and the 50% Fibonacci retracement support last week.
The chart shows a comparison of Apple with ETF (QQQ) which represents NASDAQ 100 on a 15-minute chart.
If you are bullish on technology, you might buy calls on Cisco Systems or Intel or the QQQ basket.
So if the QQQQ declines by 1%, then the UltraShort QQQ gains 2%.
Proshares Short QQQ shares are currently trading down about 2.1% on the day.
But as tax-oriented flows began to be deployed, the QQQ then rebounded 19 percent through the end of April.
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Combined assets of the five biggest (SPY, IVV, QQQ, VTI, IWM) run to a quarter of a trillion dollars.
Proshares UltraShort QQQ shares are currently trading down about 4.2% on the day.
The Nasdaq ETF (QQQ) held the 50-day and has a nice descending channel in place, typically a bullish formation.
The Powershares QQQ Trust ( QQQQ) tracks the Nasdaq 100 index, which has been the strongest US market sector.
Proshares UltraPro QQQ shares are currently trading down about 3.5% on the day.
Proshares Ultra QQQ shares are currently trading down about 2.2% on the day.
For an easy entry just buy the SPY or QQQ or non-leveraged index tracker of choice and forget about it.
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The technology-heavy Nasdaq 100, as represented by the PowerShares QQQ Trust ( QQQ), has been showing better relative strength since mid-June.
The PowerShares QQQ Trust ( QQQ) has had a steady slide from the September highs as it has lost over 9%.
The Nasdaq 100 is tracked by the Powershares QQQ Trust ( QQQ), and it has dropped 12.1% from the September highs.
From the charts it is clear that the rally in IWM lacks the impulsive nature of the action in SPY or QQQ.
The charts above show the Powershares QQQ Trust ( QQQ), which tracks the Nasdaq 100, from both a weekly and daily perspective.
Apple has helped to support the Powershares QQQ, which tracks the biggest tech names, but other tech names have been soft lately.
Between April 8 through tax day, the QQQ plunged an incredible 25 percent right up until the day after taxes were due.
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This suggests that the 2011 lows in QQQ will also be broken.
The Powershares QQQ Trust ( QQQ) dropped down to its 38.2% Fibonacci retracement support last week, which appears to be holding.
One proxy that is still trading is the Powershares QQQ, which tracks large cap tech stocks like Apple, Intel, and Google.
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PowerShares QQQ shares are currently trading down about 1.1% on the day.
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