Jul 21

New Downleg in Nasdaq (QQQQ)?

What pattern is the Q price structure carving out -- a potential near-term double-bottom or a new downleg? It certainly feels like the latter -- however, my work "warns" me to expect the former.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary.

Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!