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NASDAQ 100 LEADS MARKET LOWER.

Chip Anderson

Chip Anderson

President, StockCharts.com

NASDAQ 100 LEADS MARKET LOWER... The Nasdaq 100 QQQs were the worst percentage losers on Friday and reflected continuing weakness in the largest technology stocks. The daily chart shows the QQQ ending the week on a down note. The only saving grace was the relatively light volume. With the SOX leading the way down today, it looks like the QQQ will probably test its December low and its 200-day average just above 34. The final chart shows the hourly bars for the past week. Of particular notice was the last hour's volume bar. In the last hour of trading on Friday, the QQQ fell to a three-day low on the heaviest volume for the week. That shows some fairly heavy selling near the close on Friday.

Chip Anderson
About the author: is the founder and president of StockCharts.com. He founded the company after working as a Windows developer and corporate consultant at Microsoft from 1987 to 1997. Since 1999, Chip has guided the growth and development of StockCharts.com into a trusted financial enterprise and highly-valued resource in the industry. In this blog, Chip shares his tips and tricks on how to maximize the tools and resources available at StockCharts.com, and provides updates about new features or additions to the site. Learn More