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Non-Tech : QQQ - Nasdaq 100 Trust

QQQ 611.67

-1.9%

Nov 6 4:00 PM EST

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To: M CAHILL who started this subject	7/15/2001 12:25:42 PM
From: Michael Sphar	Read Replies (2) of 840

QQQ's in a funk. Things don't look promising for a secular change in direction yet. The long view: QQQ 1 year with moving averages: finance.yahoo.com Moving in a bit closer: QQQ 6 month with moving averages: finance.yahoo.com Closer still: QQQ 3 month with moving averages: finance.yahoo.com Notice that the orange curve is moving downward this month. The price curve hasn't been as strong this mini-cycle as last. It remains well below the orange curve since the first of June. What will it take to move up through the orange? Tech earnings season has begun. With the exception noted of Msft, its my guess that the overwhelming results will be significantly reduced revenues sequentially and weakened or no earnings. This will not make for a strengthening blue curve. I foresee another two months of the market trying to see around the corner during which these curves should continue in their current trends. Notice too, the series of declining lower tops in the blue curve, including the start of what could be yet another "lower high" this past week. Perhaps a little disillusionment will step in and help to separate the blue curve from its averages, moving it decidedly lower, which would be a nice conclusion for it to find strength to eventually turn and assail the orange resistance line (finally). Eventually, eventually, eventually...(sigh).

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