Don't Ignore This Chart!

QQQQ Retraces 38.2%

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With the March-May advance, QQQQ has now retraced 38.2% of the May-November decline. Where does this number come from? It based on the Golden Ratio Congugate (.618). 1 - .618 = .382 or 38.2%. After a decline, like May to November, the Fibonacci Retracements Tool can be used to measure percentage retracements.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.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
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