QQQQ Uptrend Intact

01/09/2009 9:52 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The daily chart of the QQQQ shows that the demand index (DI) formed a positive divergence at the Nov. lows and the uptrend is still clearly intact. A break of DI support is needed to indicate the rebound is over as was the case last August. Next strong resistance at $34-$36.50 with support at $27-$28.

Related Articles on STOCKS