Nasdaq Continues to Act Better

06/19/2009 9:42 am EST


Thomas Aspray

, Professional Trader & Analyst

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The QQQQ is now testing its daily uptrend and the RS line continues to look strong. This indicates the better relative performance of the tech-heavy Nasdaq to the S&P 500. The 50- and 200-day MAs are positive, with initial support at $34.40 and further support at $32. The 50% retracement resistance is in the $40 area.

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