Apple Corp (AAPL), which accounts for around 14% of the Nasdaq 100 ETF (QQQ), gapped down in mid October and then consolidated. This low volume consolidation now looks like a flat flag. Watch the boundaries for the next directional clue. Any move Apple will affect QQQ.
Click this chart for a live image
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.
Learn More
