The Nasdaq 100 ETF (QQQQ) is gearing up for the first test since the support break at 49. With a decline back to 46.70, the ETF is now back to broken resistance from the January highs. This area now becomes a possible support level to watch in the coming days.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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