QQQ: Double Top (still!)
Figure 1 is a weekly chart of the PowerShares QQQ Trust Series (symbol: QQQ).
Figure 1. QQQ/ weekly
This is what a double top is suppose to look like — a break above the resistance level at 67.60 to 67.82 and then a failure of this level to hold. The 40 week moving average is the next battleground, but I suspect the QQQ’s need to unwind a bit more to produce another buying opportunity.
Category: Equities, Technical Analysis
