QQQQ: Volume Positive, but at Resistance

09/21/2009 9:32 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
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The QQQQ tested the upper trend line resistance in the $43 area late last week with the major 61.8% resistance at $44. The futures are pointing to a lower opening on Monday, but the daily and weekly technical studies are still positive, so a correction should be followed by further gains. The OBV made new highs last week.

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