Powershares QQQ Trust (NASDAQ: QQQQ) Last Index Above Support Says Market Timer Frank Kollar
March 3, 2009 (FinancialWire) (By Frank Kollar)
As index after index tumbles below their November 2008 lows, and reach new bear market lows and even lower lows than the 2000-2002 bear market, Powershares QQQ Trust (NASDAQ: QQQQ) continues to be the last to hold above support.
Not to say the Powershares QQQ have not been declining. They lost almost 4% in Monday’s market selloff. But still, they remain above their bear market lows.
If the Powershares QQQ closes below $25.56 in coming weeks, they will join the rest of the stock market at new bear lows
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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